Which Stock Market is the Most Liquid?

Stocks Traded, Turnover Ratio (As % of Market Capitalisation) (%), 2019 or latest
Investments & Pensions | December 31, 2020
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Based on a comparison of 71 countries in 2019, China ranked the highest in stocks traded as a percentage of market capitalisation with 224% followed by Turkey and South Korea. On the other end of the scale was Rwanda with 0.002%, Luxembourg with 0.110% and Cayman Islands with 0.546%.

Average stocks traded as a percentage of market capitalisation reached 88.4% in 2019 in the World according to OECD. This is 18.4 % less than in the previous year and -65.2 % 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 1.91 % 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 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Australia % 57.7% 54.6% 63.2% 59.8% 53.6%
Brazil % 72.5% 76.3% 85.6% 73.6% 67.0%
Canada % 62.6% 64.1% 68.8% 57.6% 54.1%
China % 195% 199% 480% 249% 197%
Germany % 67.8% 73.0% 84.2% 74.9% 63.6%
India % 47.2% 46.9% 50.9% 51.2% 50.9%
Japan % 134% 111% 114% 105% 92.8%
Netherlands % 58.3% 60.5% ... ... ... ...
South Korea % 108% 106% 150% 126% 112%
Spain % 81.9% 99.9% 124% 97.8% 82.6%
Sweden % ... ... ... ... ... ...
Switzerland % 45.4% 49.1% 62.9% 60.7% 55.4%
Thailand % 98.7% 72.2% 77.8% 80.9% 61.9%
Turkey % 191% 168% 185% 169% 166%
USA % 138% 148% 165% 94.7% 116% ...