Stock market turnover ratio (%) by country
Ratio of the value of total shares traded to average real market capitalization, the denominator is deflated using the following method: Tt/P_at/{(0.5)*[Mt/P_et + Mt-1/P_et-1] where T is total value traded, M is stock market capitalization, P_e is end-of period CPI. (IFS line 64M..ZF or, if not available, 64Q..ZF)...
What the numbers show
Stock market turnover ratio (%) is currently reported for 90 countries. The highest value is 927.8% in Finland; the lowest is 0.1% in Papua New Guinea.
The median across all reporting countries is 15.0%, and the mean is 47.2%.
The gap between the highest and lowest reporting country is a factor of about 17,336.
Over the past decade 25 countries rose and 64 fell. The largest increase was in Finland (up 2,567.8%), and the largest decrease in Namibia (down 99.9%).
Stock market turnover ratio: full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | Finland | 927.8% | 2004 | up 2,567.8% | volatile |
| 2 | Türkiye | 365.8% | 2020 | up 174.3% | rising |
| 3 | Italy | 350.0% | 2014 | up 207.0% | volatile |
| 4 | China, People's Republic of | 258.6% | 2020 | up 26.1% | rising |
| 5 | Korea | 238.5% | 2020 | up 59.8% | volatile |
| 6 | Brazil | 139.0% | 2020 | up 136.5% | rising |
| 7 | Japan | 94.3% | 2020 | down 15.4% | volatile |
| 8 | Thailand | 88.6% | 2020 | up 10.6% | rising |
| 9 | Portugal | 81.0% | 2014 | up 53.3% | flat |
| 10 | Germany | 79.4% | 2020 | down 24.0% | volatile |
| 11 | India | 75.0% | 2020 | up 24.5% | volatile |
| 12 | Australia | 71.3% | 2020 | down 8.4% | volatile |
| 13 | Sweden | 68.5% | 2003 | up 69.4% | volatile |
| 14 | United States | 68.4% | 2019 | down 69.9% | volatile |
| 15 | United Kingdom | 66.0% | 2014 | up 14.6% | volatile |
| 16 | Switzerland | 65.3% | 2020 | down 8.2% | volatile |
| 17 | Spain | 64.5% | 2020 | down 45.0% | volatile |
| 18 | France | 63.6% | 2015 | down 12.0% | volatile |
| 19 | Netherlands | 60.5% | 2014 | down 48.1% | volatile |
| 20 | Malaysia | 56.9% | 2020 | up 102.8% | rising |
| 21 | Hong Kong (China) | 50.1% | 2020 | down 8.7% | volatile |
| 22 | Poland | 47.0% | 2020 | up 29.1% | falling |
| 23 | Denmark | 45.1% | 2004 | down 17.9% | volatile |
| 24 | Hungary | 40.4% | 2020 | down 57.7% | falling |
| 25 | Israel | 39.9% | 2020 | down 16.0% | rising |
| 26 | Russian Federation | 39.8% | 2020 | down 25.3% | falling |
| 27 | Egypt, Arab Republic of | 38.9% | 2020 | down 11.9% | volatile |
| 28 | Canada | 38.3% | 2020 | down 40.9% | volatile |
| 29 | Iran, Islamic Republic of | 38.0% | 2020 | up 93.6% | rising |
| 30 | Norway | 34.4% | 2019 | down 62.4% | volatile |
| 31 | Greece | 32.3% | 2020 | down 46.2% | falling |
| 32 | Vietnam | 30.6% | 2020 | down 63.5% | falling |
| 33 | Austria | 30.1% | 2020 | down 22.3% | volatile |
| 34 | Pakistan | 29.6% | 2011 | down 88.3% | volatile |
| 35 | Ireland | 29.1% | 2018 | down 17.9% | volatile |
| 36 | Belgium | 28.3% | 2014 | up 3.1% | volatile |
| 37 | South Africa | 27.9% | 2020 | down 6.8% | volatile |
| 38 | Indonesia | 26.4% | 2020 | down 8.8% | falling |
| 39 | Chile | 21.5% | 2020 | up 27.0% | rising |
| 40 | Mexico | 20.7% | 2020 | down 15.4% | volatile |
| 41 | Saudi Arabia | 20.0% | 2020 | down 64.9% | volatile |
| 42 | New Zealand | 16.8% | 2020 | up 80.9% | volatile |
| 43 | Bangladesh | 16.6% | 2020 | up 43.0% | volatile |
| 44 | Singapore | 16.4% | 2019 | down 68.9% | rising |
| 45 | Czechia | 15.9% | 2020 | down 79.9% | rising |
| 46 | Qatar | 14.0% | 2020 | down 77.7% | volatile |
| 47 | United Arab Emirates | 12.7% | 2020 | down 39.6% | volatile |
| 48 | Kuwait | 12.4% | 2020 | down 76.7% | volatile |
| 49 | Philippines | 12.0% | 2020 | down 15.1% | volatile |
| 50 | Romania | 11.5% | 2020 | down 2.7% | volatile |
| 51 | Sri Lanka | 10.7% | 2020 | down 57.3% | falling |
| 52 | Tunisia | 10.1% | 2014 | — | flat |
| 53 | Serbia, Republic of | 9.4% | 2011 | down 76.0% | volatile |
| 54 | Colombia | 9.4% | 2020 | down 13.6% | falling |
| 55 | Zimbabwe | 8.2% | 1999 | up 134.2% | rising |
| 56 | Jordan | 8.1% | 2020 | down 71.0% | volatile |
| 57 | Argentina | 7.6% | 2019 | up 129.3% | volatile |
| 58 | Oman | 6.3% | 2020 | down 46.0% | volatile |
| 59 | Palestine | 5.5% | 2020 | down 63.9% | volatile |
| 60 | Morocco | 5.5% | 2020 | down 37.6% | falling |
| 61 | Slovenia | 5.5% | 2020 | up 6.5% | volatile |
| 62 | Mauritius | 5.0% | 2020 | up 7.2% | falling |
| 63 | Nigeria | 4.4% | 2020 | down 56.6% | volatile |
| 64 | Botswana | 3.5% | 1999 | down 69.1% | falling |
| 65 | Lebanon | 3.5% | 2020 | down 76.6% | volatile |
| 66 | Ecuador | 2.4% | 2000 | down 44.1% | falling |
| 67 | Peru | 2.4% | 2020 | down 37.2% | volatile |
| 68 | Bahrain, Kingdom of | 2.4% | 2020 | up 68.1% | volatile |
| 69 | Côte d'Ivoire | 2.3% | 2020 | down 27.3% | volatile |
| 70 | Kenya | 2.3% | 2020 | down 58.8% | volatile |
| 71 | Venezuela, República Bolivariana de | 2.2% | 2002 | down 89.1% | falling |
| 72 | Namibia | 2.0% | 2020 | down 99.9% | volatile |
| 73 | Costa Rica | 1.6% | 2020 | down 44.3% | volatile |
| 74 | Eswatini, Kingdom of | 1.5% | 2007 | down 99.5% | volatile |
| 75 | Panama | 1.5% | 2020 | up 85.1% | volatile |
| 76 | Croatia, Republic of | 1.5% | 2019 | down 73.4% | volatile |
| 77 | Malta | 1.4% | 2020 | up 21.8% | volatile |
| 78 | Bulgaria | 1.2% | 2020 | down 76.5% | volatile |
| 79 | Kazakhstan, Republic of | 0.9% | 2020 | down 56.1% | volatile |
| 80 | Cyprus | 0.8% | 2020 | down 92.4% | volatile |
| 81 | Bermuda | 0.8% | 2019 | down 66.3% | volatile |
| 82 | Zambia | 0.6% | 2011 | down 61.4% | volatile |
| 83 | Jamaica | 0.4% | 2020 | down 92.4% | volatile |
| 84 | Ghana | 0.4% | 2020 | down 89.8% | volatile |
| 85 | Ukraine | 0.3% | 2018 | down 96.3% | volatile |
| 86 | Barbados | 0.2% | 2020 | down 85.3% | volatile |
| 87 | Cayman Islands | 0.2% | 2020 | down 52.0% | volatile |
| 88 | Slovak Republic | 0.2% | 2014 | down 99.4% | volatile |
| 89 | Luxembourg | 0.1% | 2020 | down 47.2% | volatile |
| 90 | Papua New Guinea | 0.1% | 2017 | down 87.1% | volatile |
About this data
Ratio of the value of total shares traded to average real market capitalization, the denominator is deflated using the following method: Tt/P_at/{(0.5)*[Mt/P_et + Mt-1/P_et-1] where T is total value traded, M is stock market capitalization, P_e is end-of period CPI. (IFS line 64M..ZF or, if not available, 64Q..ZF) and annual CPI (IFS line 64..ZF) are from the IMF’s International Financial Statistics.