Bulgaria vs Panama: Stock market capitalization to GDP

Bulgaria
25.3%
in 2020
Panama
25.8%
in 2020
Bulgaria rank
59th
Panama rank
57th

Stock market capitalization to GDP over time

  • Bulgaria
  • Panama
01020304050199320062020

How they compare

Panama currently reports 25.8% against 25.3% in Bulgaria, a difference of 0.5%.

The two have swapped places 2 times across 20 shared years of data; in 1993 it was Panama ahead.

Bulgaria ranks 59th and Panama ranks 57th of 91 countries.

Panama has averaged higher in every one of the 4 decades both report.

Head to head by decade

Decade Bulgaria Panama Difference Ahead
1990s 0.4% 16.1% 15.6% Panama
2000s 15.4% 28.5% 13.1% Panama
2010s 17.4% 28.3% 11.0% Panama
2020s 25.3% 25.8% 0.5% Panama

Averages of every year both report within each decade.

Frequently asked questions

Which has higher stock market capitalization to gdp, Bulgaria or Panama?
Panama, at 25.8% against 25.3% in Bulgaria as of 2020.
What is the difference in stock market capitalization to gdp between Bulgaria and Panama?
0.5%, with Panama ahead.
How many years of comparable data are there for Bulgaria and Panama?
20 years are reported by both, from 1993 to 2020.
How do Bulgaria and Panama rank globally for stock market capitalization to gdp?
Bulgaria ranks 59th and Panama ranks 57th of 91 countries.
Where does this data come from?
Global Stock Markets Factbook and supplemental S&P data, Standard & Poor's, published as Stock market capitalization to GDP (%). Statizoid refreshes it automatically from the source and publishes the full history for both places.

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Bulgaria vs Panama: Stock market capitalization to GDP. Statizoid, drawing on Global Stock Markets Factbook and supplemental S&P data, Standard & Poor's. Retrieved 08 September 2026, from https://financial-sector.statizoid.com/compare/stock-market-capitalization-to-gdp-percent/bulgaria/panama/

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About this data

Indicator
Stock market capitalization to GDP (%)
Unit
%
Source
Global Stock Markets Factbook and supplemental S&P data, Standard & Poor's
Licence
CC BY 4.0 (World Bank Open Data)
Coverage
91 places, 2,329 data points, 1975–2020
Last refreshed

Value of listed shares to GDP, calculated using the following deflation method: {(0.5)*[Ft/P_et + Ft-1/P_et-1]}/[GDPt/P_at] where F is stock market capitalization, P_e is end-of period CPI, and P_a is average annual CPI. End-of period CPI (IFS line 64M..ZF or, if not available, 64Q..ZF) and average annual CPI is calculated using the monthly CPI values (IFS line 64M..ZF).