What all of a country's companies traded on its exchange are worth.
The ranking uses the latest available value for each country — the year is shown in the row. The table spans 1996 to 2025.
Top-20 · US$
The scale does not start at zero — the values lie in a narrow range, and starting from zero the bars would be indistinguishable. The axis ticks are labeled.
| # | Year | Subregion | World rank | ||
|---|---|---|---|---|---|
| 1 |
United States
|
68.94T | 2025 | 1 | |
| 2 |
China
|
15.51T | 2025 | 2 | |
| 3 |
India
|
10.56T | 2025 | 3 | |
| 4 |
Japan
|
7.61T | 2025 | 4 | |
| 5 |
Hong Kong
|
6.09T | 2025 | 5 | |
| 6 |
Canada
|
4.62T | 2025 | 6 | |
| 7 |
United Kingdom
|
3.1T | 2022 | 7 | |
| 8 |
Germany
|
2.9T | 2025 | 8 | |
| 9 |
South Korea
|
2.76T | 2025 | 9 | |
| 10 |
Switzerland
|
2.51T | 2025 | 10 | |
| 11 |
France
|
2.37T | 2018 | 11 | |
| 12 |
Saudi Arabia
|
2.36T | 2025 | 12 | |
| 13 |
Australia
|
2.05T | 2025 | 13 | |
| 14 |
South Africa
|
1.4T | 2025 | 14 | |
| 15 |
Spain
|
1.3T | 2025 | 15 | |
| 16 |
United Arab Emirates
|
1.11T | 2025 | 16 | |
| 17 |
Netherlands
|
1.1T | 2017 | 17 | |
| 18 |
Indonesia
|
950B | 2025 | 18 | |
| 19 |
Brazil
|
871B | 2025 | 19 | |
| 20 |
Singapore
|
824B | 2025 | 20 | |
| 21 |
Russia
|
650B | 2023 | 21 | |
| 22 |
Italy
|
587B | 2014 | 22 | |
| 23 |
Mexico
|
560B | 2025 | 23 | |
| 24 |
Thailand
|
512B | 2025 | 24 | |
| 25 |
Malaysia
|
487B | 2025 | 25 | |
| 26 |
Chile
|
487B | 2025 | 26 | |
| 27 |
Türkiye
|
404B | 2025 | 27 | |
| 28 |
Israel
|
331B | 2024 | 28 | |
| 29 |
Belgium
|
321B | 2018 | 29 | |
| 30 |
Poland
|
316B | 2025 | 30 | |
| 31 |
Vietnam
|
316B | 2025 | 31 | |
| 32 |
Norway
|
296B | 2019 | 32 | |
| 33 |
Sweden
|
290B | 2003 | 33 | |
| 34 |
Philippines
|
232B | 2025 | 34 | |
| 35 |
Austria
|
211B | 2025 | 35 | |
| 36 |
Iran
|
186B | 2025 | 36 | |
| 37 |
Qatar
|
177B | 2025 | 37 | |
| 38 |
Kuwait
|
172B | 2025 | 38 | |
| 39 |
Kazakhstan
|
158B | 2025 | 39 | |
| 40 |
Denmark
|
151B | 2004 | 40 | |
| 41 |
Colombia
|
133B | 2025 | 41 | |
| 42 |
Greece
|
129B | 2025 | 42 | |
| 43 |
Morocco
|
114B | 2025 | 43 | |
| 44 |
Ireland
|
110B | 2018 | 44 | |
| 45 |
Peru
|
105B | 2025 | 45 | |
| 46 |
New Zealand
|
103B | 2025 | 46 | |
| 47 |
Nigeria
|
86.94B | 2025 | 47 | |
| 48 |
Romania
|
70.89B | 2025 | 48 | |
| 49 |
Pakistan
|
70.29B | 2025 | 49 | |
| 50 |
Luxembourg
|
69.41B | 2025 | 50 | |
| 51 |
Egypt
|
62.88B | 2025 | 51 | |
| 52 |
Hungary
|
62.59B | 2025 | 52 | |
| 53 |
Portugal
|
61.93B | 2018 | 53 | |
| 54 |
Czechia
|
55.36B | 2025 | 54 | |
| 55 |
Argentina
|
52.95B | 2022 | 55 | |
| 56 |
Oman
|
41.3B | 2025 | 56 | |
| 57 |
Croatia
|
37.9B | 2025 | 57 | |
| 58 |
Jordan
|
37.37B | 2025 | 58 | |
| 59 |
Cyprus
|
27.93B | 2025 | 59 | |
| 60 |
Panama
|
27.18B | 2025 | 60 | |
| 61 |
Bangladesh
|
26.22B | 2025 | 61 | |
| 62 |
Sri Lanka
|
26.11B | 2025 | 62 | |
| 63 |
Uzbekistan
|
23.7B | 2025 | 63 | |
| 64 |
Kenya
|
22.83B | 2025 | 64 | |
| 65 |
Bahrain
|
21.31B | 2025 | 65 | |
| 66 |
Slovenia
|
20.74B | 2025 | 66 | |
| 67 |
Finland
|
20.34B | 2004 | 67 | |
| 68 |
Ghana
|
16.44B | 2025 | 68 | |
| 69 |
Zambia
|
14.91B | 2025 | 69 | |
| 70 |
Tunisia
|
11.98B | 2025 | 70 | |
| 71 |
Jamaica
|
11.59B | 2025 | 71 | |
| 72 |
Bulgaria
|
11.18B | 2025 | 72 | |
| 73 |
Lebanon
|
10.58B | 2021 | 73 | |
| 74 |
Tanzania
|
9.78B | 2025 | 74 | |
| 75 |
Mauritius
|
8.89B | 2025 | 75 | |
| 76 |
Côte d'Ivoire
|
7.33B | 2020 | 76 | |
| 77 |
Belarus
|
5.54B | 2025 | 77 | |
| 78 |
Slovakia
|
5.38B | 2014 | 78 | |
| 79 |
Malta
|
5.35B | 2025 | 79 | |
| 80 |
Palestine
|
4.94B | 2025 | 80 | |
| 81 |
Armenia
|
4.85B | 2024 | 81 | |
| 82 |
Ukraine
|
4.42B | 2018 | 82 | |
| 83 |
Botswana
|
4.28B | 2025 | 83 | |
| 84 |
Serbia
|
4.06B | 2011 | 84 | |
| 85 |
Venezuela
|
3.98B | 2002 | 85 | |
| 86 |
Trinidad and Tobago
|
3.89B | 2001 | 86 | |
| 87 |
Montenegro
|
3.79B | 2012 | 87 | |
| 88 |
Rwanda
|
3.2B | 2025 | 88 | |
| 89 |
Barbados
|
2.78B | 2020 | 89 | |
| 90 |
Namibia
|
2.48B | 2024 | 90 | |
| 91 |
Zimbabwe
|
2.46B | 1999 | 91 | |
| 92 |
Bermuda
|
2.26B | 2025 | 92 | |
| 93 |
Costa Rica
|
2.23B | 2022 | 93 | |
| 94 |
Papua New Guinea
|
1.68B | 2017 | 94 | |
| 95 |
Azerbaijan
|
1.57B | 2025 | 95 | |
| 96 |
Channel Islands
|
1.48B | 2006 | 96 | |
| 97 |
Ecuador
|
747M | 2000 | 97 | |
| 98 |
Seychelles
|
646M | 2025 | 98 | |
| 99 |
Cayman Islands
|
644M | 2020 | 99 | |
| 100 |
Algeria
|
371M | 2018 | 100 | |
| 101 |
Paraguay
|
313M | 1999 | 101 | |
| 102 |
Uruguay
|
284M | 1996 | 102 | |
| 103 |
Eswatini
|
234M | 2007 | 103 |
The market value of all domestic companies whose shares are quoted on the country's exchanges, at the end of the year. The indicator measures not the size of the economy but the size of the public capital market: among countries with comparable GDP, capitalization differs several times over, because in some places companies raise money through the exchange and in others through banks or from the state. Foreign companies traded on the local exchange are not included.
Important: There are about 140 territories with data — the rest have no exchange, and that is the absence of the phenomenon rather than a gap: their contribution to world capitalization is zero, so aggregates for country groups are computed at a lowered coverage threshold.
The value of a country's listed companies as a percent of GDP.
Business 1975–2025 Stocks traded, total value (% of GDP)The annual turnover in shares as a percent of GDP — the liquidity of the market.
Business 1975–2025 Listed domestic companiesHow many domestic companies are quoted on a country's exchanges.
Finance 1960–2025 Credit to the private sectorThe volume of bank lending to businesses and households as a percent of GDP.