Market capitalization of listed domestic companies (% of GDP) by country
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...
Countries reporting
99
Highest
1,425.0%
Hong Kong, China
Lowest
0.2%
Algeria
Median
35.9%
Years covered
51
1975–2025
Data points
3,765
What the numbers show
Market capitalization of listed domestic companies (% of GDP) is currently reported for 99 countries. The highest value is 1,425.0% in Hong Kong, China; the lowest is 0.2% in Algeria.
The median across all reporting countries is 35.9%, and the mean is 70.1%.
The gap between the highest and lowest reporting country is a factor of about 7,464.
Over the past decade 63 countries rose and 36 fell. The largest increase was in Armenia (up 4,766.1%), and the largest decrease in Papua New Guinea (down 94.6%).
Market capitalization of listed domestic companies: full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | Hong Kong, China | 1,425.0% | 2025 | up 38.4% | volatile |
| 2 | South Africa | 327.2% | 2025 | up 54.2% | rising |
| 3 | India | 266.9% | 2025 | up 221.7% | volatile |
| 4 | Switzerland | 240.9% | 2025 | up 12.0% | volatile |
| 5 | United States of America | 224.0% | 2025 | up 63.5% | rising |
| 6 | Canada | 199.2% | 2025 | up 94.6% | rising |
| 7 | United Arab Emirates | 190.9% | 2024 | up 302.3% | volatile |
| 8 | Saudi Arabia | 184.7% | 2025 | up 204.2% | volatile |
| 9 | Japan | 171.6% | 2025 | up 59.0% | rising |
| 10 | Korea | 147.2% | 2025 | up 84.1% | volatile |
| 11 | Singapore | 136.5% | 2025 | down 34.3% | rising |
| 12 | Chile | 136.2% | 2025 | up 73.5% | rising |
| 13 | Netherlands | 129.7% | 2017 | up 15.8% | volatile |
| 14 | Australia | 113.9% | 2025 | up 30.1% | rising |
| 15 | Kuwait | 109.5% | 2025 | up 30.5% | rising |
| 16 | Malaysia | 103.2% | 2025 | down 18.8% | rising |
| 17 | United Kingdom of Great Britain and Northern Ireland | 97.3% | 2022 | down 19.6% | rising |
| 18 | Thailand | 88.8% | 2025 | up 2.2% | rising |
| 19 | Sweden | 86.8% | 2003 | up 83.6% | volatile |
| 20 | France | 85.1% | 2018 | up 69.1% | volatile |
| 21 | Qatar | 82.1% | 2025 | down 6.9% | falling |
| 22 | China | 79.5% | 2025 | up 9.6% | rising |
| 23 | Norway | 69.7% | 2019 | up 21.3% | volatile |
| 24 | Luxembourg | 68.6% | 2025 | down 12.5% | volatile |
| 25 | Spain | 68.1% | 2025 | up 4.3% | volatile |
| 26 | Cyprus | 67.7% | 2025 | up 400.9% | volatile |
| 27 | Indonesia | 65.7% | 2025 | up 60.1% | rising |
| 28 | Morocco | 62.5% | 2025 | up 50.3% | falling |
| 29 | Viet Nam | 61.4% | 2025 | up 150.1% | rising |
| 30 | Israel | 61.0% | 2024 | down 4.3% | volatile |
| 31 | Jordan | 60.7% | 2025 | up 1.0% | volatile |
| 32 | Denmark | 60.1% | 2004 | up 99.4% | volatile |
| 33 | Belgium | 59.2% | 2018 | up 83.1% | volatile |
| 34 | Germany | 57.4% | 2025 | up 14.6% | volatile |
| 35 | Mauritius | 55.0% | 2025 | down 7.6% | rising |
| 36 | Kazakhstan | 51.7% | 2025 | up 173.4% | volatile |
| 37 | Zambia | 51.6% | 2025 | up 280.3% | volatile |
| 38 | Barbados | 51.5% | 2020 | up 27.8% | rising |
| 39 | Iran, Islamic Republic of | 51.2% | 2025 | up 134.2% | volatile |
| 40 | Jamaica | 51.0% | 2025 | up 29.5% | rising |
| 41 | Philippines | 47.6% | 2025 | down 38.9% | rising |
| 42 | Greece | 46.0% | 2025 | up 112.5% | volatile |
| 43 | Lebanon | 45.7% | 2021 | up 101.8% | rising |
| 44 | Bahrain | 43.5% | 2025 | down 26.5% | falling |
| 45 | New Zealand | 39.1% | 2025 | down 6.4% | flat |
| 46 | Brazil | 38.2% | 2025 | up 40.4% | falling |
| 47 | Oman | 37.7% | 2025 | down 27.9% | rising |
| 48 | Austria | 36.4% | 2025 | up 43.9% | volatile |
| 49 | Croatia | 36.1% | 2025 | down 0.1% | volatile |
| 50 | Zimbabwe | 35.9% | 1999 | up 63.8% | rising |
| 51 | Russian Federation | 31.8% | 2023 | down 5.4% | falling |
| 52 | Peru | 31.4% | 2025 | up 5.4% | rising |
| 53 | Mexico | 30.6% | 2025 | down 7.8% | volatile |
| 54 | Poland | 30.6% | 2025 | up 6.5% | rising |
| 55 | Panama | 30.0% | 2025 | up 27.2% | rising |
| 56 | Nigeria | 29.9% | 2025 | up 195.0% | volatile |
| 57 | Colombia | 29.0% | 2025 | down 1.1% | falling |
| 58 | Palestine, State of | 28.8% | 2025 | up 20.5% | rising |
| 59 | Ireland | 27.8% | 2018 | up 54.9% | falling |
| 60 | Seychelles | 27.1% | 2025 | up 70.3% | falling |
| 61 | Italy | 27.0% | 2014 | down 38.0% | volatile |
| 62 | Slovenia | 26.0% | 2025 | up 84.2% | volatile |
| 63 | Portugal | 25.6% | 2018 | down 2.2% | falling |
| 64 | Hungary | 25.4% | 2025 | up 79.8% | falling |
| 65 | Türkiye | 25.3% | 2025 | up 16.0% | rising |
| 66 | Sri Lanka | 24.0% | 2025 | down 1.9% | rising |
| 67 | Botswana | 21.5% | 2025 | down 9.3% | volatile |
| 68 | Bermuda | 21.0% | 2024 | down 16.0% | volatile |
| 69 | Tunisia | 20.8% | 2025 | up 8.2% | rising |
| 70 | Rwanda | 19.6% | 2025 | down 44.9% | falling |
| 71 | Malta | 19.3% | 2025 | down 50.4% | falling |
| 72 | Armenia | 18.7% | 2024 | up 4,766.1% | volatile |
| 73 | Namibia | 18.2% | 2024 | down 16.6% | volatile |
| 74 | Pakistan | 17.3% | 2025 | up 10.7% | falling |
| 75 | Egypt | 17.2% | 2025 | up 2.7% | volatile |
| 76 | Kenya | 16.8% | 2025 | down 22.8% | falling |
| 77 | Romania | 16.5% | 2025 | up 58.7% | volatile |
| 78 | Uzbekistan | 16.1% | 2025 | up 116.1% | rising |
| 79 | Channel Islands | 15.3% | 2006 | up 471.3% | volatile |
| 80 | Ghana | 14.4% | 2025 | up 82.8% | volatile |
| 81 | Czechia | 14.2% | 2025 | up 32.3% | falling |
| 82 | Côte d'Ivoire | 11.6% | 2020 | down 43.2% | volatile |
| 83 | Cayman Islands | 11.4% | 2020 | up 99.0% | volatile |
| 84 | Tanzania, United Republic of | 10.8% | 2025 | up 68.1% | rising |
| 85 | Finland | 10.3% | 2004 | down 72.2% | volatile |
| 86 | Bulgaria | 8.5% | 2025 | down 63.9% | volatile |
| 87 | Argentina | 8.4% | 2022 | up 33.1% | volatile |
| 88 | Serbia | 7.9% | 2011 | up 30.9% | volatile |
| 89 | Papua New Guinea | 7.4% | 2017 | down 94.6% | volatile |
| 90 | Eswatini | 6.9% | 2007 | down 8.4% | volatile |
| 91 | Belarus | 5.9% | 2025 | up 526.9% | volatile |
| 92 | Bangladesh | 5.7% | 2025 | down 82.9% | volatile |
| 93 | Slovakia | 5.3% | 2014 | down 5.7% | volatile |
| 94 | Venezuela, Bolivarian Republic of | 4.3% | 2002 | down 67.0% | falling |
| 95 | Ecuador | 4.3% | 2000 | down 59.4% | falling |
| 96 | Ukraine | 3.4% | 2018 | down 87.8% | volatile |
| 97 | Costa Rica | 3.1% | 2022 | down 10.3% | volatile |
| 98 | Azerbaijan | 2.1% | 2025 | down 54.1% | volatile |
| 99 | Algeria | 0.2% | 2018 | up 277.1% | volatile |
Regions and income groups
Aggregates are excluded from the country ranking above so that a region can never outrank a country.
- South Asia 234.7%
- South Asia (IDA & IBRD) 234.7%
- Chagai 15.3%
- North America 222.3%
- Post-demographic dividend 191.0%
- High income 187.7%
- Lower middle income 176.4%
- OECD members 168.8%
- Africa Eastern and Southern 153.2%
- World 148.5%
- Early-demographic dividend 126.6%
- East Asia & Pacific 122.1%
- Arab World 120.4%
- Middle East, North Africa, Afghanistan & Pakistan 99.2%
- Sub-Saharan Africa (excluding high income) 89.8%
- Sub-Saharan Africa 89.8%
- Sub-Saharan Africa (IDA & IBRD countries) 89.8%
- IBRD only 89.4%
- Middle income 88.5%
- Low & middle income 88.4%
- IDA & IBRD total 86.0%
- East Asia & Pacific (excluding high income) 78.3%
- East Asia & Pacific (IDA & IBRD countries) 78.3%
- Late-demographic dividend 72.3%
- Upper middle income 70.7%
- Euro area 53.7%
- Europe & Central Asia 53.2%
- European Union 50.0%
- Latin America & Caribbean 40.8%
- Latin America & the Caribbean (IDA & IBRD countries) 40.8%
- Latin America & Caribbean (excluding high income) 34.1%
- Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD) 33.6%
- Middle East, North Africa, Afghanistan & Pakistan (excluding high income) 33.5%
- Europe & Central Asia (IDA & IBRD countries) 26.8%
- Europe & Central Asia (excluding high income) 26.7%
- Central Europe and the Baltics 23.8%
- IDA blend 20.8%
- Africa Western and Central 9.6%
About this data
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.