Zambia: Market capitalization of listed domestic companies (% of GDP)

Key figures

Over five years it is up 36.64 percentage points from 14.98% in 2020. Since 1995 it is up 40.38 percentage points from 11.24% in 1995. The World Bank has no value for 14 of the years in between; the chart leaves those gaps open rather than joining across them.

What the numbers say

In 2025, Zambia's market capitalization of listed domestic companies (% of GDP) rose 20.93 percentage points on 2024 (from 30.69% to 51.62%).

Across the 11 yearly changes before that (1996 to 2024), the average change was +1.84 percentage points and a typical year strayed about 7.63 percentage points from that (the standard deviation). This year's change was 2.5 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 20.93 percentage points in 2025 and the biggest yearly fall was 7.06 percentage points in 2006. 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 28th highest value of the 61 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.

Closest to Zambia in the 2025 ranking

• Germany — 25th of 61: 57.39%
• Mauritius — 26th of 61: 55.02%
• Kazakhstan — 27th of 61: 51.73%
• Iran, Islamic Rep. — 29th of 61: 51.18%
• Jamaica — 30th of 61: 51.04%
• Philippines — 31st of 61: 47.64%

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.

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 weighted average.

All 17 values

Market capitalization of listed domestic companies (% of GDP) in nearby economies

• Botswana — 21.47% (2025)
• Côte d'Ivoire — 11.63% (2020)
• Ghana — 14.4% (2025)
• Kenya — 16.79% (2025)
• Mauritius — 55.02% (2025)
• Namibia — 18.18% (2024)
• Nigeria — 29.9% (2025)
• South Africa — 327.24% (2025)
• Tanzania — 10.85% (2025)

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

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Zambia's market capitalization of listed domestic companies (% of GDP)?

51.62% in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1995?

It is up 40.38 percentage points from 11.24% in 1995. The highest value was 51.62% in 2025 and the lowest 6.03% in 1996.

How does Zambia rank?

28th highest of 61 economies with data for 2025.

Is the latest change in market capitalization of listed domestic companies (% of GDP) unusual for Zambia?

In 2025, Zambia's market capitalization of listed domestic companies (% of GDP) rose 20.93 percentage points on 2024 (from 30.69% to 51.62%). Across the 11 yearly changes before that (1996 to 2024), the average change was +1.84 percentage points and a typical year strayed about 7.63 percentage points from that (the standard deviation). This year's change was 2.5 standard deviations above that average, so it was unusually large compared with the rest of the record.

Source

World Bank, World Development Indicators, indicator CM.MKT.LCAP.GD.ZS, 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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