Which Stock Market is the Most Liquid?

Stocks Traded, Turnover Ratio (As % of Market Capitalisation) (%), 2018 or latest
Investments & Pensions | May 17, 2019
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Excel Sheet

Based on a comparison of 55 countries in 2018, Turkey ranked the highest in stocks traded as a percentage of market capitalisation with 248% followed by China and South Korea. On the other end of the scale was Luxembourg with 0.161%, Croatia with 1.20% and Cyprus with 1.68%.

Average stocks traded as a percentage of market capitalisation reached 105% in 2018 in the World according to OECD. This is 4.45 % more than in the previous year and -138 % less than 10 years ago.

Historically, average stocks traded as a percentage of market capitalisation reached an all time high of 250% in 2008 and an all time low of 30.0% in 1982. The average annual growth amounted to 2.37 % since 1975.

Data for more countries are available at Stocks Traded, Turnover Ratio (As % of Market Capitalisation) indicator page.

Stocks Traded, Turnover Ratio (As % of Market Capitalisation) Unit 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Australia % 65.3% 57.7% 54.6% 63.2% 59.8%
Brazil % 67.8% 72.5% 76.3% 85.6% 73.6%
Canada % 65.4% 62.6% 64.1% 68.8% 57.6%
China % 136% 195% 199% 480% 249%
Germany % 84.1% 67.8% 73.0% 84.2% 74.9%
Hong Kong % 38.0% 40.9% 44.9% 65.0% 40.9%
India % 48.8% 47.2% 46.9% 50.9% 51.2%
Japan % 96.2% 134% 111% 114% 105%
Saudi Arabia % 137% 77.5% 117% 104% 77.5%
South Korea % 134% 108% 106% 150% 126%
Spain % 86.9% 81.9% 99.9% 124% 97.8%
Switzerland % 48.0% 45.4% 49.1% 62.9% 60.7%
Thailand % 61.3% 98.7% 72.2% 77.8% 80.9%
Turkey % 114% 191% 168% 185% 169%
USA % 173% 138% 148% 165% 94.7%