Middle East, North Africa, Afghanistan & Pakistan's market capitalization of listed domestic companies (current US$) was US$4.37 trillion in 2025, the latest year in the World Bank's World Development Indicators. That is up 211.56% from US$1.4 trillion in 2015 (12.03% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$4.37 trillion | 2025 |
| Five years earlier | US$5.04 trillion | 2020 |
| Ten years earlier | US$1.4 trillion | 2015 |
| Highest | US$6.87 trillion | 2023 |
| Lowest | US$912.21 billion | 2012 |
| Average since 2016 | US$4.07 trillion | 2016–2025 |
| First recorded | US$917.94 billion |
What the numbers say
In 2025, Middle East, North Africa, Afghanistan & Pakistan's market capitalization of listed domestic companies (current US$) fell 10% on 2024 (from US$4.86 trillion to US$4.37 trillion).
Across the 15 yearly changes before that (2010 to 2024), the average change was +17.4% and a typical year strayed about 44.2% from that (the standard deviation). This year's change was 0.6 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 154.3% in 2019 and the biggest yearly fall was 29.3% in 2024. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2016 to 2025 the straight-line trend is upward, about US$520.35 billion a year. A straight line explains 60% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
See how every economy compares in the full ranking.
| Value | Year | |
|---|---|---|
| Middle East, North Africa, Afghanistan & Pakistan | US$4.37 trillion | 2025 |
| World | US$141.3 trillion | 2025 |
What this measures
Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.
Limitations: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.
Regional and income-group figures are computed by the World Bank as a sum.
All 17 values
| Year | Market capitalization of listed domestic companies (current US$) |
|---|---|
| 2025 | 4,374,158,550,000 |
| 2024 | 4,858,557,230,000 |
| 2023 | 6,873,167,960,000 |
| 2022 | 5,929,667,230,000 |
| 2021 | 5,680,382,890,000 |
| 2020 | 5,037,242,480,000 |
| 2019 | 3,808,396,730,000 |
| 2018 | 1,497,843,268,618 |
| 2017 | 1,361,868,933,989 |
| 2016 | 1,318,825,653,983 |
Market capitalization of listed domestic companies (current US$) in nearby economies
- Algeria — US$371.42 million (2018)
- Bahrain — US$21.31 billion (2025)
- Egypt, Arab Rep. — US$62.88 billion (2025)
- Iran, Islamic Rep. — US$185.64 billion (2025)
- Israel — US$330.88 billion (2024)
- Jordan — US$37.37 billion (2025)
- Kuwait — US$172.13 billion (2025)
- Lebanon — US$10.58 billion (2021)
- Malta
More financial sector data for Middle East, North Africa, Afghanistan & Pakistan
- Domestic credit to private sector by banks (% of GDP) — 52.26% (2025)
- Monetary sector credit to private sector (% of GDP) — 50.77% (2020)
- Inflation, GDP deflator (annual % growth) — 2.2% (2025)
- Claims on central government, etc. (% of GDP) — 23.05% (2020)
- Broad money (% of GDP) — 78.66% (2017)
- Domestic credit to private sector (% of GDP) — 52.41% (2020)
- Inflation, consumer prices (annual % growth) — 2.04% (2025)
Reading data like this
Questions people ask
- What is Middle East, North Africa, Afghanistan & Pakistan's market capitalization of listed domestic companies (current US$)?
- US$4.37 trillion in 2025, according to the World Bank (World Development Indicators).
- How has it changed since 2009?
- It is up 376.52% from US$917.94 billion in 2009 (10.25% a year on average, compounded). The highest value was US$6.87 trillion in 2023 and the lowest US$912.21 billion in 2012.
- Is the latest change in market capitalization of listed domestic companies (current US$) unusual for Middle East, North Africa, Afghanistan & Pakistan?
- In 2025, Middle East, North Africa, Afghanistan & Pakistan's market capitalization of listed domestic companies (current US$) fell 10% on 2024 (from US$4.86 trillion to US$4.37 trillion). Across the 15 yearly changes before that (2010 to 2024), the average change was +17.4% and a typical year strayed about 44.2% from that (the standard deviation). This year's change was 0.6 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator CM.MKT.LCAP.CD, licensed CC BY 4.0. Original source: World Federation of Exchanges database, World Federation of Exchanges (WFE) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.
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