Of the economies in the World Bank's latest release, China has the highest stocks traded, turnover ratio of domestic shares (%) (296.65% in 2024) and Papua New Guinea the lowest (0.05% in 2017). The world figure is 94.15% (2024).
What this measures
Turnover ratio is the value of domestic shares traded divided by their market capitalization. The value is annualized by multiplying the monthly average by 12.
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. Only domestic shares are used in order to be consistent with domestic market capitalization.
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 | China | 296.65% | 2024 |
| 2 | Türkiye | 253.11% | 2024 |
| 3 | Korea, Rep. | 200.76% | 2024 |
| 4 | Qatar | 171.65% | 2024 |
| 5 | Brazil | 138.05% | 2024 |
| 6 | Japan | 117.02% | 2024 |
| 7 | Viet Nam | 78.39% | 2024 |
| 8 | United States | 68.5% | 2024 |
| 9 | Hong Kong SAR, China | 65.86% | 2024 |
| 10 | India | 65.23% | 2024 |
| 11 | Canada | 63.71% | 2024 |
| 12 | France | 63.61% | 2015 |
| 13 | Thailand | 58.09% | 2024 |
| 14 | Australia | 48.66% | 2024 |
| 15 | Egypt, Arab Rep. | 47.65% | 2024 |
| 16 | Germany | 45.2% | 2024 |
| 17 | Poland | 41.1% | 2024 |
| 18 | Pakistan | 38.08% | 2024 |
| 19 | Greece | 37.58% | 2024 |
| 20 | Malaysia | 36.92% | 2024 |
| 21 | Spain | 36.64% | 2024 |
| 22 | Switzerland | 36.49% | 2024 |
| 23 | United Kingdom | 36.32% | 2022 |
| 24 | Norway | 34.41% | 2019 |
| 25 | Russian Federation | 32.96% | 2023 |
| 26 | Kuwait | 32.79% | 2024 |
| 27 | Ireland | 29.13% | 2018 |
| 28 | Mexico | 26.22% | 2024 |
| 29 | South Africa | 25.78% | 2024 |
| 30 | Austria | 25.01% | 2024 |
| 31 | Indonesia | 18.54% | 2023 |
| 32 | Hungary | 17.75% | 2024 |
| 33 | Saudi Arabia | 17.38% | 2024 |
| 34 | Singapore | 16.38% | 2019 |
| 35 | Argentina | 15.03% | 2022 |
| 36 | Bangladesh | 14.54% | 2024 |
| 37 | Israel | 14.04% | 2024 |
| 38 | New Zealand | 13.55% | 2024 |
| 39 | United Arab Emirates | 11.43% | 2024 |
| 40 | Chile | 11.19% | 2024 |
| 41 | Iran, Islamic Rep. | 10.97% | 2024 |
| 42 | Czechia | 10.43% | 2024 |
| 43 | Oman | 10.39% | 2022 |
| 44 | Philippines | 8.66% | 2024 |
| 45 | Botswana | 8.4% | 2023 |
| 46 | Morocco | 8.08% | 2024 |
| 47 | Sri Lanka | 7.66% | 2024 |
| 48 | Colombia | 6.79% | 2024 |
| 49 | Tunisia | 6.61% | 2024 |
| 50 | Romania | 6.36% | 2024 |
| 51 | Jordan | 6.06% | 2024 |
| 52 | Peru | 4.65% | 2024 |
| 53 | West Bank and Gaza | 4.02% | 2024 |
| 54 | Bahrain | 3.93% | 2024 |
| 55 | Jamaica | 3.88% | 2024 |
| 56 | Slovenia | 3.72% | 2024 |
| 57 | Lebanon | 3.34% | 2021 |
| 58 | Nigeria | 2.84% | 2024 |
| 59 | Mauritius | 2.78% | 2024 |
| 60 | Kenya | 2.73% | 2024 |
| 61 | Panama | 2.31% | 2024 |
| 62 | Bulgaria | 2.17% | 2024 |
| 63 | Costa Rica | 1.96% | 2022 |
| 64 | Côte d'Ivoire | 1.86% | 2019 |
| 65 | Cyprus | 1.4% | 2024 |
| 66 | Malta | 1.25% | 2024 |
| 67 | Ghana | 1.04% | 2024 |
| 68 | Croatia | 1.02% | 2024 |
| 69 | Namibia | 0.91% | 2024 |
| 70 | Kazakhstan | 0.73% | 2024 |
| 71 | Bermuda | 0.58% | 2024 |
| 72 | Barbados | 0.23% | 2020 |
| 73 | Cayman Islands | 0.2% | 2020 |
| 74 | Zambia | 0.19% | 2024 |
| 75 | Luxembourg | 0.09% | 2024 |
| 76 | Papua New Guinea | 0.05% | 2017 |
Regions and income groups
More financial sector indicators
- S&P Global Equity Indices (annual % change)
- Market capitalization of listed domestic companies (current US$)
- Market capitalization of listed domestic companies (% of GDP)
- Listed domestic companies, total
- Stocks traded, total value (current US$)
- Stocks traded, total value (% of GDP)
- 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.TRNR, 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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