Zambia's market capitalization of listed domestic companies (current US$) was US$14.91 billion in 2025, the latest year in the World Bank's World Development Indicators. That is up 448.78% from US$2.72 billion in 2020 (40.57% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$14.91 billion | 2025 |
| Five years earlier | US$2.72 billion | 2020 |
| Highest | US$14.91 billion | 2025 |
| Lowest | US$217.05 million | 1996 |
| Average since 2020 | US$6.15 billion | 2020–2025 |
| First recorded | US$427.96 million | 1995 |
Over five years it is up 448.78% from US$2.72 billion in 2020 (40.57% a year on average, compounded). Since 1995 it is up 3,383% from US$427.96 million in 1995 (12.56% a year on average, compounded).
What the numbers say
In 2025, Zambia's market capitalization of listed domestic companies (current US$) rose 92% on 2024 (from US$7.77 billion to US$14.91 billion).
Across the 11 yearly changes before that (1996 to 2024), the average change was +34.7% and a typical year strayed about 65.9% from that (the standard deviation). This year's change was 0.9 standard deviations above 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 131.2% in 1997 and the biggest yearly fall was 49.3% in 1996. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2025, Zambia had the 54th highest value of the 63 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Zambia | US$14.91 billion | 2025 |
| World | US$141.3 trillion | 2025 |
| Lower middle income | US$11.02 trillion | 2025 |
Closest to Zambia in the 2025 ranking
What this measures
Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.
Limitations: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.
Regional and income-group figures are computed by the World Bank as a sum.
All 17 values
| Year | Market capitalization of listed domestic companies (current US$) |
|---|---|
| 2025 | 14,907,450,000 |
| 2024 | 7,765,130,000 |
| 2023 | 3,456,230,000 |
| 2022 | 4,037,230,000 |
| 2021 | 4,034,770,000 |
| 2020 | 2,716,490,000 |
| 2019 | no data |
| 2018 | no data |
| 2017 | no data |
| 2016 | no data |
Market capitalization of listed domestic companies (current US$) in nearby economies
- Botswana — US$4.28 billion (2025)
- Côte d'Ivoire — US$7.33 billion (2020)
- Ghana — US$16.44 billion (2025)
- Kenya — US$22.83 billion (2025)
- Mauritius — US$8.89 billion (2025)
- Namibia — US$2.48 billion (2024)
- Nigeria — US$86.94 billion (2025)
- South Africa — US$1.4 trillion (2025)
- Tanzania
More financial sector data for Zambia
- GDP deflator (base year varies by country) — 415.22 (2025)
- DEC alternative conversion factor (LCU per US$) — US$25.13 (2025)
- Official exchange rate (LCU per US$, period average) — US$25.28 (2025)
- Inflation, GDP deflator (annual % growth) — 5.63% (2025)
- Domestic credit to private sector by banks (% of GDP) — 13.68% (2025)
- Net domestic credit (current LCU) — 172.45 billion (2025)
- Net foreign assets (current LCU) — 85.43 billion (2025)
- Monetary sector credit to private sector (% of GDP) — 13.72% (2025)
- Broad money (current LCU) — 223.14 billion (2025)
- Broad money (% of GDP)
Reading data like this
Questions people ask
- What is Zambia's market capitalization of listed domestic companies (current US$)?
- US$14.91 billion in 2025, according to the World Bank (World Development Indicators).
- How has it changed since 1995?
- It is up 3,383% from US$427.96 million in 1995 (12.56% a year on average, compounded). The highest value was US$14.91 billion in 2025 and the lowest US$217.05 million in 1996.
- How does Zambia rank?
- 54th highest of 63 economies with data for 2025.
- Is the latest change in market capitalization of listed domestic companies (current US$) unusual for Zambia?
- In 2025, Zambia's market capitalization of listed domestic companies (current US$) rose 92% on 2024 (from US$7.77 billion to US$14.91 billion). Across the 11 yearly changes before that (1996 to 2024), the average change was +34.7% and a typical year strayed about 65.9% from that (the standard deviation). This year's change was 0.9 standard deviations above 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.
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