# List of countries by stock market capitalization

The following list sorts countries by the total market capitalization of all domestic companies listed in the country, according to data from the World Bank. Market capitalization, commonly called market cap, is the market value of a publicly traded company's outstanding shares.

## Ranking

| Country / Territory | Total market cap | Total market cap | Number of domestic companies listed | Year |
| Country / Territory | (in millions of US$) | (as a % of GDP) | Number of domestic companies listed | Year |
| United States | 56,549,774 | 206.7 | 4,642 | 2025 |
| China | 14,411,090 | 65.1 | 5,363 | 2024 |
| Japan | 5,504,375 | 146.2 | 3,865 | 2024 |
| Hong Kong | 5,463,067 | 1262.6 | 2,414 | 2024 |
| India | 5,063,221 | 140.1 | 5,451 | 2024 |
| Canada | 3,463,403 | 160.7 | 3,534 | 2024 |
| France | 3,459,821 | 84.9 | 457 | 2024 |
| United Kingdom | 3,043,410 | 100.2 | 1,646 | 2024 |
| Saudi Arabia | 2,694,060 | 347.0 | 269 | 2024 |
| Germany | 2,182,882 | 60 | 429 | 2024 |
| Taiwan | 2,042,603 | 297.1 | 1,627 | 2024 |
| Australia | 1,723,639 | 129.3 | 1,976 | 2024 |
| Netherlands | 1,705,355 | 132.3 | 103 | 2024 |
| South Korea | 1,684,779 | 94.5 | 2,446 | 2024 |
| Switzerland | 1,640,242 | 267.6 | 236 | 2024 |
| Iran | 1,613,045 | 390.2 | 546 | 2022 |
| Spain | 1,334,656 | 82.2 | 1,472 | 2024 |
| South Africa | 1,230,120 | 348.3 | 237 | 2023 |
| Sweden | 1,009,218 | 162 | 832 | 2024 |
| United Arab Emirates | 873,562 | 172.3 | 153 | 2022 |
| Brazil | 863,490 | 68.4 | 361 | 2024 |
| Denmark | 799,695 | 195 | 178 | 2024 |
| Indonesia | 778,620 | 46.3 | 903 | 2024 |
| Italy | 747,438 | 36.5 | 290 | 2023 |
| Belgium | 715,694 | 108.8 | 117 | 2023 |
| Singapore | 619,361 | 132.7 | 425 | 2022 |
| Thailand | 604,355 | 122.0 | 810 | 2022 |
| Russia | 530,104 | 46.8 | 195 | 2022 |
| Mexico | 454,370 | 31.0 | 133 | 2022 |
| Malaysia | 381,207 | 93.7 | 963 | 2022 |
| Norway | 377,933 | 71.7 | 340 | 2024 |
| Turkey | 391,285 | 29.1 | 570 | 2024 |
| Chile | 285,232 | 94.8 | 400 | 2022 |
| Finland | 269,681 | 87.5 | 134 | 2024 |
| Israel | 269,637 | 51.4 | 518 | 2022 |
| Vietnam | 246,700 | 62 | 402 | 2023 |
| Philippines | 238,581 | 59.0 | 283 | 2022 |
| Qatar | 166,776 | 70.6 | 47 | 2022 |
| Kuwait | 152,683 | 87.1 | 148 | 2022 |
| Poland | 147,657 | 21.5 | 773 | 2022 |
| Bangladesh | 124,000 | 27.7 | 987 | 2024 |
| Austria | 123,048 | 26.1 | 66 | 2022 |
| Ireland | 110,154 | 28.5 | 42 | 2023 |
| New Zealand | 97,545 | 39.3 | 123 | 2022 |
| Portugal | 97,453 | 25.6 | 40 | 2024 |
| Nigeria | 91,439 | 19.3 | 173 | 2022 |
| Romania | 73,267 | 18.3 | 87 | 2024 |
| Peru | 71,314 | 29.4 | 186 | 2022 |
| Colombia | 68,412 | 19.9 | 65 | 2022 |
| Greece | 59,035 | 27.1 | 154 | 2022 |
| Morocco | 53,706 | 41.0 | 75 | 2022 |
| Argentina | 52,948 | 8.4 | 91 | 2022 |
| Luxembourg | 50,897 | 62.3 | 28 | 2020 |
| Kazakhstan | 45,768 | 20.3 | 92 | 2020 |
| Egypt | 41,351 | 8.1 | 239 | 2020 |
| Nepal | 36,000 | 82.7 | 244 | 2024 |
| Pakistan | 32,000 | 7.7 | 523 | 2024 |
| Botswana | 31,024 | 152.4 | 23 | 2022 |
| Bahrain | 30,262 | 68.2 | 42 | 2022 |
| Czech Republic | 28,809 | 9.9 | 24 | 2022 |
| Jordan | 25,429 | 52.3 | 170 | 2022 |
| Hungary | 23,867 | 13.5 | 62 | 2022 |
| Oman | 22,267 | 19.4 | 110 | 2022 |
| Iceland | 19,466 | 61.6 | ... | 2024 |
| Croatia | 19,335 | 27.0 | 91 | 2022 |
| Trinidad and Tobago | 17,700 | 72.0 | 35 | 2018 |
| Kenya | 16,107 | 14.2 | 59 | 2022 |
| Bulgaria | 15,704 | 17.4 | 201 | 2022 |
| Panama | 15,628 | 20.4 | 34 | 2022 |
| Jamaica | 13,053 | 76.3 | 95 | 2022 |
| Sri Lanka | 10,598 | 14.2 | 290 | 2022 |
| Lebanon | 10,577 | 45.7 | 10 | 2021 |
| Mauritius | 8,567 | 66.2 | 89 | 2022 |
| Ecuador | 8,340 | 7.0 | 300 | 2023 |
| Slovenia | 8,171 | 13.6 | 24 | 2022 |
| Tunisia | 7,753 | 16.7 | 82 | 2022 |
| Ivory Coast | 7,331 | 12.0 | 46 | 2022 |
| Tanzania | 6,697 | 8.8 | 22 | 2022 |
| Cyprus | 6,533 | 22.3 | 92 | 2022 |
| Ghana | 6,464 | 8.8 | 31 | 2022 |
| Slovakia | 5,377 | 5.3 | 67 | 2014 |
| Uzbekistan | 5,194 | 7.5 | | 2021 |
| Palestine | 4,896 | 25.6 | 49 | 2022 |
| Ukraine | 4,415 | 3.4 | 78 | 2018 |
| Malta | 4,358 | 24.0 | 27 | 2022 |
| Zambia | 4,037 | 13.8 | 22 | 2022 |
| Serbia | 4,056 | 8.2 | ... | 2011 |
| Venezuela | 3,980 | 4.3 | 37 | 2002 |
| Montenegro | 3,787 | 92.6 | 112 | 2012 |
| Rwanda | 3,444 | 25.9 | 5 | 2022 |
| Cambodia | 3,200 | 10.0 | 7 | 2023 |
| Barbados | 2,780 | 63.7 | 15 | 2020 |
| Belarus | 2,497 | 3.4 | 14 | 2022 |
| Zimbabwe | 2,461 | 35.9 | 69 | 1999 |
| Costa Rica | 2,232 | 3.2 | 9 | 2022 |
| Namibia | 2,159 | 16.7 | 13 | 2022 |
| Papua New Guinea | 1,682 | 7.4 | 6 | 2017 |
| Azerbaijan | 1,468 | 1.9 | 29 | 2022 |
| Seychelles | 1,216 | 76.5 | 46 | 2022 |
| Cayman Islands | 644 | 6.4 | 4 | 2020 |
| Algeria | 371 | 0.2 | ... | 2018 |
| Paraguay | 313 | 3.5 | 55 | 1999 |
| Uruguay | 284 | 1.4 | 17 | 1996 |
| Armenia | 253 | 1.3 | 12 | 2022 |
| Eswatini | 234 | 6.8 | 6 | 2007 |
| Bermuda | 207 | 2.7 | 13 | 2022 |

## Historical development of world market cap

| Year | World market cap | World market cap | Number of listed companies |
| Year | Millions of US$ | % of GDP | Number of listed companies |
| 1975 | 1,149,245 | 27.2 | 14,577 |
| 1980 | 2,525,736 | 29.6 | 17,273 |
| 1985 | 4,684,978 | 47.0 | 20,555 |
| 1990 | 9,519,107 | 50.8 | 23,732 |
| 1991 | 11,340,785 | 56.8 | 24,666 |
| 1992 | 10,819,256 | 50.2 | 24,947 |
| 1993 | 13,897,390 | 61.7 | 28,300 |
| 1994 | 14,639,924 | 60.9 | 30,290 |
| 1995 | 17,263,728 | 64.0 | 33,379 |
| 1996 | 19,806,691 | 72.3 | 35,617 |
| 1997 | 22,029,761 | 80.7 | 36,946 |
| 1998 | 24,555,201 | 89.6 | 37,928 |
| 1999 | 33,181,159 | 115.1 | 38,414 |
| 2000 | 30,925,434 | 101.1 | 39,892 |
| 2001 | 26,792,162 | 88.4 | 40,157 |
| 2002 | 22,802,792 | 72.7 | 38,894 |
| 2003 | 31,107,425 | 84.9 | 41,051 |
| 2004 | 36,540,980 | 89.2 | 38,724 |
| 2005 | 40,512,446 | 92.6 | 39,096 |
| 2006 | 50,074,966 | 106.1 | 43,104 |
| 2007 | 60,456,082 | 114.0 | 44,034 |
| 2008 | 32,418,516 | 56.2 | 43,949 |
| 2009 | 47,471,293 | 83.8 | 42,669 |
| 2010 | 54,259,518 | 87.3 | 43,427 |
| 2011 | 47,521,341 | 68.8 | 44,323 |
| 2012 | 54,503,237 | 78.4 | 43,772 |
| 2013 | 64,367,842 | 89.0 | 44,853 |
| 2014 | 67,177,254 | 90.3 | 45,743 |
| 2015 | 62,268,184 | 94.5 | 43,983 |
| 2016 | 65,117,714 | 97.1 | 43,806 |
| 2017 | 79,501,948 | 111.1 | 43,440 |
| 2018 | 68,893,044 | 91.9 | 45,050 |
| 2019 | 78,825,583 | 108.4 | 49,921 |
| 2020 | 93,686,226 | 133.4 | 49,839 |
| 2021 | 111,159,259 | 131.8 | 51,337 |
| 2022 | 93,688,922 | 106.2 | 47,926 |