Stocks traded, turnover ratio of domestic shares (%) by country
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.
Countries reporting
97
Highest
350.0%
Italy
Lowest
0.0%
Armenia
Median
10.4%
Years covered
50
1975–2024
Data points
4,292
What the numbers show
Stocks traded, turnover ratio of domestic shares (%) is currently reported for 97 countries. The highest value is 350.0% in Italy; the lowest is 0.0% in Armenia.
The median across all reporting countries is 10.4%, and the mean is 34.1%.
The gap between the highest and lowest reporting country is a factor of about 8,009.
Over the past decade 31 countries rose and 64 fell. The largest increase was in Kuwait (up 948.9%), and the largest decrease in Namibia (down 99.9%).
Stocks traded, turnover ratio of domestic shares: full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | Italy | 350.0% | 2014 | up 207.0% | rising |
| 2 | China | 296.7% | 2024 | up 49.0% | rising |
| 3 | Türkiye | 253.1% | 2024 | up 50.4% | rising |
| 4 | Korea | 200.8% | 2024 | up 89.7% | rising |
| 5 | Qatar | 171.7% | 2024 | up 482.9% | volatile |
| 6 | Brazil | 138.1% | 2024 | up 80.9% | volatile |
| 7 | Japan | 117.0% | 2024 | up 5.7% | volatile |
| 8 | Finland | 102.7% | 2004 | up 195.3% | volatile |
| 9 | Portugal | 81.0% | 2014 | up 53.3% | flat |
| 10 | Viet Nam | 78.4% | 2024 | up 37.6% | falling |
| 11 | United States of America | 68.5% | 2024 | down 53.7% | volatile |
| 12 | Sweden | 68.5% | 2003 | up 69.4% | volatile |
| 13 | Hong Kong, China | 65.9% | 2024 | up 46.8% | volatile |
| 14 | India | 65.2% | 2024 | up 44.5% | volatile |
| 15 | Canada | 63.7% | 2024 | down 0.7% | volatile |
| 16 | France | 63.6% | 2015 | down 12.0% | volatile |
| 17 | Netherlands | 60.5% | 2014 | down 48.1% | volatile |
| 18 | Thailand | 58.1% | 2024 | down 19.5% | rising |
| 19 | Australia | 48.7% | 2024 | down 10.9% | rising |
| 20 | Egypt | 47.7% | 2024 | up 26.3% | falling |
| 21 | Germany | 45.2% | 2024 | down 38.1% | volatile |
| 22 | Denmark | 45.1% | 2004 | down 17.9% | volatile |
| 23 | Poland | 41.1% | 2024 | up 20.1% | falling |
| 24 | Pakistan | 38.1% | 2024 | up 28.7% | volatile |
| 25 | Greece | 37.6% | 2024 | down 37.3% | falling |
| 26 | Malaysia | 36.9% | 2024 | up 18.8% | rising |
| 27 | Spain | 36.6% | 2024 | down 63.3% | volatile |
| 28 | Switzerland | 36.5% | 2024 | down 25.7% | volatile |
| 29 | United Kingdom of Great Britain and Northern Ireland | 36.3% | 2022 | down 51.6% | volatile |
| 30 | Norway | 34.4% | 2019 | down 62.4% | volatile |
| 31 | Russian Federation | 33.0% | 2023 | up 7.9% | falling |
| 32 | Kuwait | 32.8% | 2024 | up 948.9% | volatile |
| 33 | Ireland | 29.1% | 2018 | down 17.9% | volatile |
| 34 | Belgium | 28.3% | 2014 | up 3.1% | volatile |
| 35 | Mexico | 26.2% | 2024 | down 1.7% | volatile |
| 36 | South Africa | 25.8% | 2024 | down 2.0% | volatile |
| 37 | Austria | 25.0% | 2024 | down 15.7% | volatile |
| 38 | Indonesia | 18.5% | 2023 | down 35.0% | falling |
| 39 | Hungary | 17.8% | 2024 | down 63.8% | volatile |
| 40 | Saudi Arabia | 17.4% | 2024 | down 85.2% | volatile |
| 41 | Singapore | 16.4% | 2019 | down 68.9% | rising |
| 42 | Argentina | 15.0% | 2022 | up 252.2% | volatile |
| 43 | Bangladesh | 14.5% | 2024 | down 37.0% | volatile |
| 44 | Israel | 14.0% | 2024 | down 40.5% | falling |
| 45 | New Zealand | 13.5% | 2024 | up 16.5% | volatile |
| 46 | United Arab Emirates | 11.4% | 2024 | down 83.9% | volatile |
| 47 | Chile | 11.2% | 2024 | down 3.8% | rising |
| 48 | Iran, Islamic Republic of | 11.0% | 2024 | down 45.2% | rising |
| 49 | Czechia | 10.4% | 2024 | down 45.5% | volatile |
| 50 | Oman | 10.4% | 2022 | up 18.2% | volatile |
| 51 | Serbia | 9.4% | 2011 | down 76.0% | volatile |
| 52 | Philippines | 8.7% | 2024 | down 46.3% | volatile |
| 53 | Botswana | 8.4% | 2023 | up 114.0% | volatile |
| 54 | Zimbabwe | 8.2% | 1999 | up 134.2% | rising |
| 55 | Morocco | 8.1% | 2024 | up 40.3% | falling |
| 56 | Sri Lanka | 7.7% | 2024 | down 30.2% | falling |
| 57 | Colombia | 6.8% | 2024 | down 42.1% | falling |
| 58 | Tunisia | 6.6% | 2024 | down 39.2% | falling |
| 59 | Romania | 6.4% | 2024 | down 8.2% | volatile |
| 60 | Jordan | 6.1% | 2024 | down 49.9% | volatile |
| 61 | Peru | 4.7% | 2024 | up 13.7% | volatile |
| 62 | Palestine, State of | 4.0% | 2024 | down 63.8% | volatile |
| 63 | Bahrain | 3.9% | 2024 | up 20.8% | volatile |
| 64 | Jamaica | 3.9% | 2024 | down 8.9% | volatile |
| 65 | Slovenia | 3.7% | 2024 | down 61.9% | volatile |
| 66 | Lebanon | 3.3% | 2021 | down 41.0% | volatile |
| 67 | Nigeria | 2.8% | 2024 | down 65.3% | volatile |
| 68 | Mauritius | 2.8% | 2024 | down 47.5% | falling |
| 69 | Kenya | 2.7% | 2024 | down 69.6% | volatile |
| 70 | Ecuador | 2.4% | 2000 | down 44.1% | falling |
| 71 | Panama | 2.3% | 2024 | down 23.7% | volatile |
| 72 | Venezuela, Bolivarian Republic of | 2.2% | 2002 | down 89.1% | falling |
| 73 | Bulgaria | 2.2% | 2024 | down 44.3% | volatile |
| 74 | Costa Rica | 2.0% | 2022 | down 20.3% | volatile |
| 75 | Côte d'Ivoire | 1.9% | 2019 | down 52.6% | volatile |
| 76 | Rwanda | 1.6% | 2024 | up 298.6% | volatile |
| 77 | Eswatini | 1.5% | 2007 | down 99.5% | volatile |
| 78 | Cyprus | 1.4% | 2024 | down 0.0% | volatile |
| 79 | Malta | 1.2% | 2024 | down 26.2% | volatile |
| 80 | Ghana | 1.0% | 2024 | down 87.4% | volatile |
| 81 | Croatia | 1.0% | 2024 | down 75.2% | volatile |
| 82 | Namibia | 0.9% | 2024 | down 99.9% | volatile |
| 83 | Tanzania, United Republic of | 0.9% | 2024 | — | volatile |
| 84 | Kazakhstan | 0.7% | 2024 | down 80.6% | volatile |
| 85 | Bermuda | 0.6% | 2024 | down 60.5% | volatile |
| 86 | Azerbaijan | 0.4% | 2024 | up 379.9% | volatile |
| 87 | Seychelles | 0.3% | 2024 | down 89.9% | volatile |
| 88 | Belarus | 0.3% | 2024 | down 93.8% | volatile |
| 89 | Barbados | 0.2% | 2020 | down 85.4% | volatile |
| 90 | Cayman Islands | 0.2% | 2020 | down 52.0% | volatile |
| 91 | Slovakia | 0.2% | 2014 | down 76.3% | volatile |
| 92 | Zambia | 0.2% | 2024 | down 71.1% | volatile |
| 93 | Luxembourg | 0.1% | 2024 | down 46.5% | volatile |
| 94 | Uzbekistan | 0.1% | 2024 | — | volatile |
| 95 | Papua New Guinea | 0.1% | 2017 | down 87.1% | volatile |
| 96 | Channel Islands | 0.1% | 2006 | down 99.8% | volatile |
| 97 | Armenia | 0.0% | 2024 | up 2.6% | volatile |
Regions and income groups
Aggregates are excluded from the country ranking above so that a region can never outrank a country.
- East Asia & Pacific (excluding high income) 269.6%
- East Asia & Pacific (IDA & IBRD countries) 269.6%
- Chagai 0.1%
- Late-demographic dividend 232.7%
- Upper middle income 224.6%
- Europe & Central Asia (excluding high income) 188.1%
- Middle income 185.8%
- Low & middle income 185.8%
- IBRD only 183.5%
- IDA & IBRD total 181.5%
- East Asia & Pacific 178.3%
- Europe & Central Asia (IDA & IBRD countries) 129.3%
- Latin America & Caribbean (excluding high income) 115.2%
- World 94.2%
- Latin America & Caribbean 91.4%
- Latin America & the Caribbean (IDA & IBRD countries) 91.4%
- OECD members 73.2%
- Post-demographic dividend 72.5%
- High income 71.2%
- North America 68.2%
- South Asia 64.0%
- South Asia (IDA & IBRD) 64.0%
- Lower middle income 61.7%
- Europe & Central Asia 50.5%
- Early-demographic dividend 45.5%
- Euro area 40.6%
- European Union 39.6%
- Central Europe and the Baltics 26.5%
- Africa Eastern and Southern 24.9%
- Sub-Saharan Africa (excluding high income) 23.7%
- Sub-Saharan Africa 23.7%
- Sub-Saharan Africa (IDA & IBRD countries) 23.7%
- Arab World 22.5%
- Middle East, North Africa, Afghanistan & Pakistan 20.0%
- IDA blend 14.7%
- IDA total 13.0%
- Middle East, North Africa, Afghanistan & Pakistan (IDA & IBRD) 12.9%
- Middle East, North Africa, Afghanistan & Pakistan (excluding high income) 12.9%
- Least developed countries 12.7%
- IDA only 11.6%
About this data
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.