For that indicator, The World Bank provides data for Serbia from 2003 to 2011. The average value for Serbia during that period was 12.52 percent with a minumum of 4.76 percent in 2009 and a maximum of 39.37 percent in 2003.
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The stock market turnover ratio in Serbia equals "the value of all stock market trades / the market value of all listed companies." It reflects how active the stock market of Serbia is. A country may have many listed companies but few active trades. Conversely, there may be few listed companies but many trades.
Definition: Turnover ratio is the value of domestic shares traded divided by their market capitalization. The value is annualized by multiplying the monthly average by 12.