* indicates monthly or quarterly data series

Stock market value traded, percent of GDP, 2020:

The average for 2020 based on 64 countries was 46.77 percent. The highest value was in Hong Kong: 889.82 percent and the lowest value was in Belarus: 0.01 percent. The indicator is available from 1975 to 2020. Below is a chart for all countries where data are available.

Measure: percent; Source: The World Federation of Exchanges
Select indicator
* indicates monthly or quarterly data series


Countries Stock market value traded, 2020 Global rank Available data
Hong Kong 889.82 1 1975 - 2020
South Korea 315.68 2 1979 - 2020
China 215.01 3 1993 - 2020
Iran 192.9 4 1975 - 2020
Switzerland 176.24 5 1980 - 2020
Japan 125.52 6 1975 - 2020
Turkey 120.58 7 1991 - 2020
Thailand 96.17 8 1980 - 2020
Brazil 93.06 9 1989 - 2020
Australia 92.17 10 1975 - 2020
South Africa 86.86 11 1975 - 2020
Malaysia 73.67 12 1980 - 2020
India 72.81 13 2000 - 2020
Saudi Arabia 66.11 14 2001 - 2020
Canada 61.33 15 1975 - 2020
Germany 46.66 16 1975 - 2020
Spain 38.29 17 1975 - 2020
Israel 25.32 18 1995 - 2020
Russia 18.53 19 2001 - 2020
Vietnam 16.4 20 2008 - 2020
Qatar 16.05 21 2006 - 2020
Chile 15.62 22 1980 - 2020
Poland 13.92 23 1991 - 2020
Kuwait 12.43 24 1993 - 2020
Indonesia 12.38 25 1993 - 2020
UA Emirates 10.73 26 2006 - 2020
New Zealand 10.44 27 1985 - 2020
Austria 9.14 28 1975 - 2020
Philippines 9.05 29 1980 - 2020
Greece 8.75 30 1980 - 2020
Mexico 7.38 31 1978 - 2020
Hungary 7.19 32 2002 - 2020
Egypt 4.19 33 2006 - 2020
Bangladesh 3.99 34 1993 - 2020
Colombia 3.7 35 1980 - 2020
Jordan 3.37 36 1993 - 2020
Morocco 2.97 37 1993 - 2020
Mauritius 2.72 38 1993 - 2020
Sri Lanka 2.03 39 1993 - 2020
Czechia 1.72 40 1993 - 2020
Bahrain 1.71 41 1994 - 2020
Oman 1.37 42 1993 - 2020
Palestine 1.22 43 1999 - 2020
Romania 1.17 44 1997 - 2020
Peru 1.05 45 1993 - 2020
Slovenia 0.86 46 1995 - 2020
Lebanon 0.73 47 1996 - 2020
Argentina 0.57 48 1983 - 2020
Nigeria 0.57 49 1993 - 2020
Kenya 0.48 50 1993 - 2020
Malta 0.47 51 1998 - 2020
Panama 0.37 52 1993 - 2020
Namibia 0.34 53 1994 - 2020
Jamaica 0.33 54 1993 - 2020
Bulgaria 0.3 55 1993 - 2020
Ivory Coast 0.27 56 1998 - 2020
Kazakhstan 0.23 57 2002 - 2020
Cyprus 0.15 58 1993 - 2020
Barbados 0.13 59 1993 - 2020
Luxembourg 0.07 60 1982 - 2020
Costa Rica 0.05 61 1993 - 2020
Ghana 0.05 62 1993 - 2020
Tanzania 0.03 63 1999 - 2020
Belarus 0.01 64 2014 - 2020



Definition: The value of shares traded is the total number of shares traded, both domestic and foreign, multiplied by their respective matching prices. Figures are single counted (only one side of the transaction is considered). Companies admitted to listing and admitted to trading are included in the data. Data are end of year values.
Discussion: Value traded as percent of GDP is calculated as the total amount of shares traded over the course of one year (number of shares traded times their prices at the time of the trade) divided by GDP. This is a measure of how active the stock market of a country is. There may be large market capitalization with either many firms traded or few but very large firms, but there may be limited activity in terms of buying and selling shares. The value traded measure captures the trading volumes to reveal how active the market is.

A related measure is the stock market turnover ratio which also looks at the volume to stock market trades but related to the market capitalization, not GDP. Therefore, it is good practice to look at both measures when evaluating how active a stock market is. The correlation of the two measures is about 0.4 when looking at data for the last ten years, i.e. it is positive but not close to 1.


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889.82
315.68
215.01
192.90
176.24
125.52
120.58
96.17
93.06
92.17
86.86
73.67
72.81
66.11
61.33
46.66
38.29
25.32
18.53
16.40
16.05
15.62
13.92
12.43
12.38
10.73
10.44
9.14
9.05
8.75
7.38
7.19
4.19
3.99
3.70
3.37
2.97
2.72
2.03
1.72
1.71
1.37
1.22
1.17
1.05
0.86
0.73
0.57
0.57
0.48
0.47
0.37
0.34
0.33
0.30
0.27
0.23
0.15
0.13
0.07
0.05
0.05
0.03
0.01
0
222.5
444.9
667.4
889.82
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