Financial markets development - Country rankings

* indicates monthly or quarterly data series

Financial markets development, 2021:

The average for 2021 based on 158 countries was 0.239 index points. The highest value was in Switzerland: 0.921 index points and the lowest value was in Democratic Republic of the Congo: 0 index points. The indicator is available from 1980 to 2021. Below is a chart for all countries where data are available.

Measure: index points; Source: International Monetary Fund
Select indicator
* indicates monthly or quarterly data series


Countries Financial markets development, 2021 Global rank Available data
Switzerland 0.921 1 1980 - 2021
USA 0.9 2 1980 - 2021
Australia 0.869 3 1980 - 2021
Japan 0.856 4 1980 - 2021
UK 0.854 5 1980 - 2021
Spain 0.8 6 1980 - 2021
Italy 0.782 7 1980 - 2021
Sweden 0.781 8 1980 - 2021
Netherlands 0.759 9 1980 - 2021
Germany 0.756 10 1980 - 2021
Canada 0.754 11 1980 - 2021
South Korea 0.752 12 1980 - 2021
France 0.751 13 1980 - 2021
Malaysia 0.727 14 1980 - 2021
Thailand 0.724 15 1980 - 2021
Norway 0.697 16 1980 - 2021
Hong Kong 0.696 17 1980 - 2021
Brazil 0.655 18 1980 - 2021
Finland 0.653 19 1980 - 2021
Ireland 0.638 20 1980 - 2021
China 0.635 21 1982 - 2021
Singapore 0.62 22 1980 - 2021
UA Emirates 0.585 23 1980 - 2021
India 0.582 24 1980 - 2021
Qatar 0.567 25 1980 - 2021
Denmark 0.566 26 1980 - 2021
Luxembourg 0.564 27 1980 - 2021
Bahrain 0.563 28 1980 - 2021
Turkey 0.563 29 1985 - 2021
Portugal 0.553 30 1980 - 2021
Austria 0.551 31 1980 - 2021
Saudi Arabia 0.518 32 1980 - 2021
Greece 0.498 33 1982 - 2021
South Africa 0.492 34 1980 - 2021
Belgium 0.487 35 1980 - 2021
New Zealand 0.472 36 1980 - 2021
Mauritius 0.455 37 1980 - 2021
Russia 0.439 38 1984 - 2021
Cyprus 0.438 39 1980 - 2021
Iran 0.424 40 1980 - 2021
Israel 0.421 41 1980 - 2021
Panama 0.397 42 1980 - 2021
Chile 0.395 43 1980 - 2021
Hungary 0.384 44 1982 - 2021
Malta 0.373 45 1980 - 2021
Philippines 0.363 46 1980 - 2021
Poland 0.362 47 1980 - 2021
Oman 0.343 48 1980 - 2021
Vietnam 0.337 49 1992 - 2021
Bahamas 0.322 50 1980 - 2021
Mexico 0.322 51 1980 - 2021
Indonesia 0.304 52 1980 - 2021
Colombia 0.302 53 1980 - 2021
Egypt 0.287 54 1980 - 2021
Iceland 0.272 55 1980 - 2021
Kuwait 0.27 56 1980 - 2021
Morocco 0.256 57 1980 - 2021
Jordan 0.24 58 1980 - 2021
Croatia 0.237 59 1992 - 2021
Kazakhstan 0.237 60 1993 - 2021
Botswana 0.227 61 1980 - 2021
Argentina 0.221 62 1980 - 2021
Peru 0.22 63 1980 - 2021
Barbados 0.21 64 1980 - 2021
Azerbaijan 0.208 65 1992 - 2021
Nigeria 0.197 66 1980 - 2021
Venezuela 0.197 67 1980 - 2021
Bangladesh 0.19 68 1980 - 2021
Zambia 0.185 69 1980 - 2021
Saint Lucia 0.182 70 1980 - 2021
Brunei 0.174 71 1986 - 2021
Sri Lanka 0.17 72 1980 - 2021
Jamaica 0.144 73 1980 - 2021
Lebanon 0.142 74 1980 - 2021
Pakistan 0.14 75 1980 - 2021
Tr.&Tobago 0.117 76 1980 - 2021
Mongolia 0.111 77 1991 - 2021
Ghana 0.104 78 1980 - 2021
Czechia 0.103 79 1990 - 2021
Papua N.G. 0.099 80 1980 - 2021
Togo 0.099 81 1980 - 2021
Grenada 0.097 82 1980 - 2021
Mozambique 0.096 83 1990 - 2021
Burundi 0.094 84 1980 - 2021
Macao 0.094 85 1984 - 2021
Liberia 0.091 86 1981 - 2021
Slovenia 0.091 87 1980 - 2021
Laos 0.087 88 1989 - 2021
Seychelles 0.072 89 1980 - 2021
Romania 0.071 90 1980 - 2021
Honduras 0.07 91 1980 - 2021
Bulgaria 0.069 92 1988 - 2021
Namibia 0.066 93 1990 - 2021
Paraguay 0.057 94 1980 - 2021
Tunisia 0.056 95 1980 - 2021
Serbia 0.055 96 1994 - 2021
Estonia 0.051 97 1992 - 2021
Uzbekistan 0.05 98 1993 - 2021
Ivory Coast 0.047 99 1982 - 2021
Yemen 0.041 100 1988 - 2021
Kenya 0.038 101 1980 - 2021
Ukraine 0.036 102 1992 - 2021
Latvia 0.034 103 1993 - 2021
Georgia 0.033 104 1994 - 2021
Rwanda 0.033 105 1980 - 2021
Uruguay 0.033 106 1980 - 2021
Chad 0.029 107 1980 - 2021
Costa Rica 0.029 108 1980 - 2021
El Salvador 0.029 109 1980 - 2021
Lithuania 0.027 110 1993 - 2021
Ecuador 0.025 111 1980 - 2021
Slovakia 0.025 112 1991 - 2021
Angola 0.024 113 1993 - 2021
Armenia 0.023 114 1993 - 2021
R. of Congo 0.018 115 1980 - 2021
Turkmenistan 0.018 116 1998 - 2021
Belarus 0.017 117 1993 - 2021
Bhutan 0.016 118 1982 - 2021
Domin. Rep. 0.016 119 1980 - 2021
Guatemala 0.014 120 1980 - 2021
Guinea 0.013 121 1989 - 2021
Tanzania 0.013 122 1980 - 2021
Senegal 0.012 123 1980 - 2021
Swaziland 0.012 124 1980 - 2021
Gabon 0.011 125 1980 - 2021
Benin 0.01 126 1980 - 2021
Niger 0.01 127 1980 - 2021
Bolivia 0.009 128 1980 - 2021
Ethiopia 0.009 129 1980 - 2021
Albania 0.008 130 1992 - 2021
Kyrgyzstan 0.008 131 1995 - 2021
Suriname 0.008 132 1980 - 2021
Belize 0.007 133 1980 - 2021
Aruba 0.006 134 1986 - 2021
Mauritania 0.006 135 1980 - 2021
Guyana 0.005 136 1980 - 2021
Sierra Leone 0.005 137 1980 - 2021
North Macedonia 0.004 138 1992 - 2021
Cameroon 0.003 139 1980 - 2021
Madagascar 0.003 140 1980 - 2021
Maldives 0.003 141 1980 - 2021
Mali 0.003 142 1980 - 2021
Moldova 0.003 143 1992 - 2021
Tajikistan 0.003 144 1998 - 2021
Uganda 0.003 145 1980 - 2021
Algeria 0.002 146 1980 - 2021
Bosnia & Herz. 0.002 147 1995 - 2021
Burma 0.002 148 1980 - 2021
Cambodia 0.002 149 1993 - 2021
Cape Verde 0.002 150 1980 - 2021
Fiji 0.002 151 1980 - 2021
Burkina Faso 0.001 152 1980 - 2021
Lesotho 0.001 153 1980 - 2021
Malawi 0.001 154 1980 - 2021
Nepal 0.001 155 1980 - 2021
Nicaragua 0.001 156 1980 - 2021
DR Congo 0 157 1993 - 2021
Sudan 0 158 1980 - 2021



Definition: An index for overall financial markets development based on the three subindexes for depth, access, and efficiency listed on the indictors menu. See Svirydzenka, Katsiaryna (IMF, 2016) for more detail.

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All articles

1. Switzerland
2. USA
3. Australia
4. Japan
5. UK
6. Spain
7. Italy
8. Sweden
9. Netherlands
10. Germany
11. Canada
12. South Korea
13. France
14. Malaysia
15. Thailand
16. Norway
17. Hong Kong
18. Brazil
19. Finland
20. Ireland
21. China
22. Singapore
23. UA Emirates
24. India
25. Qatar
26. Denmark
27. Luxembourg
28. Bahrain
29. Turkey
30. Portugal
31. Austria
32. Saudi Arabia
33. Greece
34. South Africa
35. Belgium
36. New Zealand
37. Mauritius
38. Russia
39. Cyprus
40. Iran
41. Israel
42. Panama
43. Chile
44. Hungary
45. Malta
46. Philippines
47. Poland
48. Oman
49. Vietnam
50. Bahamas
51. Mexico
52. Indonesia
53. Colombia
54. Egypt
55. Iceland
56. Kuwait
57. Morocco
58. Jordan
59. Croatia
60. Kazakhstan
61. Botswana
62. Argentina
63. Peru
64. Barbados
65. Azerbaijan
66. Nigeria
67. Venezuela
68. Bangladesh
69. Zambia
70. Saint Lucia
71. Brunei
72. Sri Lanka
73. Jamaica
74. Lebanon
75. Pakistan
76. Tr.&Tobago
77. Mongolia
78. Ghana
79. Czechia
80. Papua N.G.
81. Togo
82. Grenada
83. Mozambique
84. Burundi
85. Macao
86. Liberia
87. Slovenia
88. Laos
89. Seychelles
90. Romania
91. Honduras
92. Bulgaria
93. Namibia
94. Paraguay
95. Tunisia
96. Serbia
97. Estonia
98. Uzbekistan
99. Ivory Coast
100. Yemen
101. Kenya
102. Ukraine
103. Latvia
104. Georgia
105. Rwanda
106. Uruguay
107. Chad
108. Costa Rica
109. El Salvador
110. Lithuania
111. Ecuador
112. Slovakia
113. Angola
114. Armenia
115. R. of Congo
116. Turkmenistan
117. Belarus
118. Bhutan
119. Domin. Rep.
120. Guatemala
121. Guinea
122. Tanzania
123. Senegal
124. Swaziland
125. Gabon
126. Benin
127. Niger
128. Bolivia
129. Ethiopia
130. Albania
131. Kyrgyzstan
132. Suriname
133. Belize
134. Aruba
135. Mauritania
136. Guyana
137. Sierra Leone
138. North Macedonia
139. Cameroon
140. Madagascar
141. Maldives
142. Mali
143. Moldova
144. Tajikistan
145. Uganda
146. Algeria
147. Bosnia & Herz.
148. Burma
149. Cambodia
150. Cape Verde
151. Fiji
152. Burkina Faso
153. Lesotho
154. Malawi
155. Nepal
156. Nicaragua
157. DR Congo
158. Sudan
0.921
0.900
0.869
0.856
0.854
0.800
0.782
0.781
0.759
0.756
0.754
0.752
0.751
0.727
0.724
0.697
0.696
0.655
0.653
0.638
0.635
0.620
0.585
0.582
0.567
0.566
0.564
0.563
0.563
0.553
0.551
0.518
0.498
0.492
0.487
0.472
0.455
0.439
0.438
0.424
0.421
0.397
0.395
0.384
0.373
0.363
0.362
0.343
0.337
0.322
0.322
0.304
0.302
0.287
0.272
0.270
0.256
0.240
0.237
0.237
0.227
0.221
0.220
0.210
0.208
0.197
0.197
0.190
0.185
0.182
0.174
0.170
0.144
0.142
0.140
0.117
0.111
0.104
0.103
0.099
0.099
0.097
0.096
0.094
0.094
0.091
0.091
0.087
0.072
0.071
0.070
0.069
0.066
0.057
0.056
0.055
0.051
0.050
0.047
0.041
0.038
0.036
0.034
0.033
0.033
0.033
0.029
0.029
0.029
0.027
0.025
0.025
0.024
0.023
0.018
0.018
0.017
0.016
0.016
0.014
0.013
0.013
0.012
0.012
0.011
0.010
0.010
0.009
0.009
0.008
0.008
0.008
0.007
0.006
0.006
0.005
0.005
0.004
0.003
0.003
0.003
0.003
0.003
0.003
0.003
0.002
0.002
0.002
0.002
0.002
0.002
0.001
0.001
0.001
0.001
0.001
0.000
0.000
0
0.2
0.5
0.7
0.92


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