Of the economies in the World Bank's latest release, United States has the highest market capitalization of listed domestic companies (current US$) (US$68.94 trillion in 2025) and Algeria the lowest (US$371.42 million in 2018). The world figure is 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.
Each country's latest available year is shown; countries report on different schedules, so compare years before comparing values.
Ranking
| # | Economy | Latest value | Year |
|---|---|---|---|
| 1 | United States | US$68.94 trillion | 2025 |
| 2 | China | US$15.51 trillion | 2025 |
| 3 | India | US$10.56 trillion | 2025 |
| 4 | Japan | US$7.61 trillion | 2025 |
| 5 | Hong Kong SAR, China | US$6.09 trillion | 2025 |
| 6 | Canada | US$4.62 trillion | 2025 |
| 7 | United Kingdom | US$3.1 trillion | 2022 |
| 8 | Germany | US$2.9 trillion | 2025 |
| 9 | Korea, Rep. | US$2.76 trillion | 2025 |
| 10 | Switzerland | US$2.51 trillion | 2025 |
| 11 | France | US$2.37 trillion | 2018 |
| 12 | Saudi Arabia | US$2.36 trillion | 2025 |
| 13 | Australia | US$2.05 trillion | 2025 |
| 14 | South Africa | US$1.4 trillion | 2025 |
| 15 | Spain | US$1.3 trillion | 2025 |
| 16 | United Arab Emirates | US$1.11 trillion | 2025 |
| 17 | Netherlands | US$1.1 trillion | 2017 |
| 18 | Indonesia | US$949.59 billion | 2025 |
| 19 | Brazil | US$871.44 billion | 2025 |
| 20 | Singapore | US$824.34 billion | 2025 |
| 21 | Russian Federation | US$650.49 billion | 2023 |
| 22 | Mexico | US$560.41 billion | 2025 |
| 23 | Thailand | US$512.38 billion | 2025 |
| 24 | Malaysia | US$487.45 billion | 2025 |
| 25 | Chile | US$486.73 billion | 2025 |
| 26 | Türkiye | US$404.35 billion | 2025 |
| 27 | Israel | US$330.88 billion | 2024 |
| 28 | Belgium | US$321.09 billion | 2018 |
| 29 | Poland | US$316.5 billion | 2025 |
| 30 | Viet Nam | US$316 billion | 2025 |
| 31 | Norway | US$295.55 billion | 2019 |
| 32 | Philippines | US$232.07 billion | 2025 |
| 33 | Austria | US$211.15 billion | 2025 |
| 34 | Iran, Islamic Rep. | US$185.64 billion | 2025 |
| 35 | Qatar | US$176.91 billion | 2025 |
| 36 | Kuwait | US$172.13 billion | 2025 |
| 37 | Kazakhstan | US$158.41 billion | 2025 |
| 38 | Colombia | US$132.51 billion | 2025 |
| 39 | Greece | US$128.98 billion | 2025 |
| 40 | Morocco | US$114.01 billion | 2025 |
| 41 | Ireland | US$110.15 billion | 2018 |
| 42 | Peru | US$105.16 billion | 2025 |
| 43 | New Zealand | US$103.17 billion | 2025 |
| 44 | Nigeria | US$86.94 billion | 2025 |
| 45 | Romania | US$70.89 billion | 2025 |
| 46 | Pakistan | US$70.29 billion | 2025 |
| 47 | Luxembourg | US$69.41 billion | 2025 |
| 48 | Egypt, Arab Rep. | US$62.88 billion | 2025 |
| 49 | Hungary | US$62.59 billion | 2025 |
| 50 | Portugal | US$61.93 billion | 2018 |
| 51 | Czechia | US$55.36 billion | 2025 |
| 52 | Argentina | US$52.95 billion | 2022 |
| 53 | Oman | US$41.3 billion | 2025 |
| 54 | Croatia | US$37.9 billion | 2025 |
| 55 | Jordan | US$37.37 billion | 2025 |
| 56 | Cyprus | US$27.93 billion | 2025 |
| 57 | Panama | US$27.18 billion | 2025 |
| 58 | Bangladesh | US$26.22 billion | 2025 |
| 59 | Sri Lanka | US$26.11 billion | 2025 |
| 60 | Kenya | US$22.83 billion | 2025 |
| 61 | Bahrain | US$21.31 billion | 2025 |
| 62 | Slovenia | US$20.74 billion | 2025 |
| 63 | Ghana | US$16.44 billion | 2025 |
| 64 | Zambia | US$14.91 billion | 2025 |
| 65 | Tunisia | US$11.98 billion | 2025 |
| 66 | Jamaica | US$11.59 billion | 2025 |
| 67 | Bulgaria | US$11.18 billion | 2025 |
| 68 | Lebanon | US$10.58 billion | 2021 |
| 69 | Tanzania | US$9.78 billion | 2025 |
| 70 | Mauritius | US$8.89 billion | 2025 |
| 71 | Côte d'Ivoire | US$7.33 billion | 2020 |
| 72 | Malta | US$5.35 billion | 2025 |
| 73 | West Bank and Gaza | US$4.94 billion | 2025 |
| 74 | Botswana | US$4.28 billion | 2025 |
| 75 | Barbados | US$2.78 billion | 2020 |
| 76 | Namibia | US$2.48 billion | 2024 |
| 77 | Bermuda | US$2.26 billion | 2025 |
| 78 | Costa Rica | US$2.23 billion | 2022 |
| 79 | Papua New Guinea | US$1.68 billion | 2017 |
| 80 | Cayman Islands | US$644.32 million | 2020 |
| 81 | Algeria | US$371.42 million | 2018 |
Regions and income groups
More financial sector indicators
- S&P Global Equity Indices (annual % change)
- Market capitalization of listed domestic companies (% of GDP)
- Listed domestic companies, total
- Stocks traded, total value (current US$)
- Stocks traded, total value (% of GDP)
- Stocks traded, turnover ratio of domestic shares (%)
- Bank nonperforming loans to total gross loans (%)
- Automated teller machines (ATMs) (per 100,000 adults)
- Bank capital to assets ratio (%)
- Commercial bank branches (per 100,000 adults)
- Borrowers from commercial banks (per 1,000 adults)
- Depositors with commercial banks (per 1,000 adults)
Reading data like this
Source
World Bank, World Development Indicators, CM.MKT.LCAP.CD, CC BY 4.0. Original source: World Federation of Exchanges database, World Federation of Exchanges (WFE) View on data.worldbank.org; the full definition is in the World Bank's metadata glossary.
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