Which Country Has the Largest Stock Market vs. the Economy?

Market Capitalisation of Listed Companies (As % of GDP) (%), 2017 or latest
Investments & Pensions | May 17, 2019
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Based on a comparison of 66 countries in 2017, Hong Kong ranked the highest in market capitalisation of listed companies as of GDP with 1,274% followed by South Africa and Switzerland. On the other end of the scale was Ukraine with 4.63%, Costa Rica with 5.26% and Nigeria with 9.91%.

Average market capitalisation of listed companies as of GDP reached 112% in 2017 in the World according to OECD. This is 12.8 % more than in the previous year and -1.87 % less than 10 years ago.

Historically, average market capitalisation of listed companies as of GDP reached an all time high of 116% in 1999 and an all time low of 24.4% in 1978. The average annual growth amounted to 3.25 % since 1975.

Data for more countries are available at Market Capitalisation of Listed Companies (As % of GDP) indicator page.

Market Capitalisation of Listed Companies (As % of GDP) Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Australia % 85.9% 89.9% 86.8% 88.0% 88.0%
Canada % 107% 113% 115% 116% 103%
Chile % 107% 117% 95.2% 89.5% 78.0%
France % 54.3% 67.4% 81.9% 73.1% 85.6%
Hong Kong % 909% 1,078% 1,125% 1,109% 1,029%
Japan % 54.0% 56.1% 88.1% 90.3% 111%
Luxembourg % 113% 124% 127% 95.6% 82.4%
Malaysia % 133% 148% 155% 136% 129%
Netherlands % 65.8% 77.6% 93.3% 88.3% 95.2%
Singapore % 217% 263% 245% 242% 210%
South Africa % 189% 229% 257% 266% 232%
South Korea % 82.8% 96.5% 94.6% 85.9% 89.0%
Switzerland % 156% 185% 224% 211% 223%
Thailand % 72.4% 98.0% 84.3% 106% 86.9%
USA % 101% 115% 143% 150% 138%