Of the economies in the World Bank's latest release, Hong Kong SAR, China has the highest market capitalization of listed domestic companies (% of GDP) (1,425% in 2025) and Algeria the lowest (0.19% in 2018). The world figure is 148.54% (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.
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 | Hong Kong SAR, China | 1,425% | 2025 |
| 2 | South Africa | 327.24% | 2025 |
| 3 | India | 266.92% | 2025 |
| 4 | Switzerland | 240.94% | 2025 |
| 5 | United States | 224.05% | 2025 |
| 6 | Canada | 199.2% | 2025 |
| 7 | United Arab Emirates | 190.86% | 2024 |
| 8 | Saudi Arabia | 184.71% | 2025 |
| 9 | Japan | 171.6% | 2025 |
| 10 | Korea, Rep. | 147.23% | 2025 |
| 11 | Singapore | 136.51% | 2025 |
| 12 | Chile | 136.2% | 2025 |
| 13 | Netherlands | 129.69% | 2017 |
| 14 | Australia | 113.87% | 2025 |
| 15 | Kuwait | 109.49% | 2025 |
| 16 | Malaysia | 103.23% | 2025 |
| 17 | United Kingdom | 97.32% | 2022 |
| 18 | Thailand | 88.8% | 2025 |
| 19 | France | 85.06% | 2018 |
| 20 | Qatar | 82.07% | 2025 |
| 21 | China | 79.54% | 2025 |
| 22 | Norway | 69.66% | 2019 |
| 23 | Luxembourg | 68.61% | 2025 |
| 24 | Spain | 68.07% | 2025 |
| 25 | Cyprus | 67.74% | 2025 |
| 26 | Indonesia | 65.69% | 2025 |
| 27 | Morocco | 62.51% | 2025 |
| 28 | Viet Nam | 61.4% | 2025 |
| 29 | Israel | 61.02% | 2024 |
| 30 | Jordan | 60.65% | 2025 |
| 31 | Belgium | 59.17% | 2018 |
| 32 | Germany | 57.39% | 2025 |
| 33 | Mauritius | 55.02% | 2025 |
| 34 | Kazakhstan | 51.73% | 2025 |
| 35 | Zambia | 51.62% | 2025 |
| 36 | Barbados | 51.46% | 2020 |
| 37 | Iran, Islamic Rep. | 51.18% | 2025 |
| 38 | Jamaica | 51.04% | 2025 |
| 39 | Philippines | 47.64% | 2025 |
| 40 | Greece | 45.96% | 2025 |
| 41 | Lebanon | 45.73% | 2021 |
| 42 | Bahrain | 43.52% | 2025 |
| 43 | New Zealand | 39.07% | 2025 |
| 44 | Brazil | 38.22% | 2025 |
| 45 | Oman | 37.68% | 2025 |
| 46 | Austria | 36.44% | 2025 |
| 47 | Croatia | 36.08% | 2025 |
| 48 | Russian Federation | 31.79% | 2023 |
| 49 | Peru | 31.41% | 2025 |
| 50 | Mexico | 30.58% | 2025 |
| 51 | Poland | 30.57% | 2025 |
| 52 | Panama | 30.05% | 2025 |
| 53 | Nigeria | 29.9% | 2025 |
| 54 | Colombia | 28.97% | 2025 |
| 55 | West Bank and Gaza | 28.79% | 2025 |
| 56 | Ireland | 27.83% | 2018 |
| 57 | Slovenia | 26.03% | 2025 |
| 58 | Portugal | 25.58% | 2018 |
| 59 | Hungary | 25.39% | 2025 |
| 60 | Türkiye | 25.31% | 2025 |
| 61 | Sri Lanka | 24% | 2025 |
| 62 | Botswana | 21.47% | 2025 |
| 63 | Bermuda | 20.97% | 2024 |
| 64 | Tunisia | 20.84% | 2025 |
| 65 | Malta | 19.26% | 2025 |
| 66 | Namibia | 18.18% | 2024 |
| 67 | Pakistan | 17.26% | 2025 |
| 68 | Egypt, Arab Rep. | 17.21% | 2025 |
| 69 | Kenya | 16.79% | 2025 |
| 70 | Romania | 16.54% | 2025 |
| 71 | Ghana | 14.4% | 2025 |
| 72 | Czechia | 14.16% | 2025 |
| 73 | Côte d'Ivoire | 11.63% | 2020 |
| 74 | Cayman Islands | 11.39% | 2020 |
| 75 | Tanzania | 10.85% | 2025 |
| 76 | Bulgaria | 8.55% | 2025 |
| 77 | Argentina | 8.35% | 2022 |
| 78 | Papua New Guinea | 7.39% | 2017 |
| 79 | Bangladesh | 5.75% | 2025 |
| 80 | Costa Rica | 3.14% | 2022 |
| 81 | Algeria | 0.19% | 2018 |
Regions and income groups
More financial sector indicators
- S&P Global Equity Indices (annual % change)
- Market capitalization of listed domestic companies (current US$)
- Listed domestic companies, total
- Stocks traded, total value (current US$)
- 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.GD.ZS, 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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