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Which Stock Market is the Biggest by Country?

Market Capitalisation of Listed Companies (USD) (USD bil), 2020 or latest
Investments & Pensions | April 17, 2023
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Excel Sheet

Based on a comparison of 76 countries in 2020, USA ranked the highest in market capitalisation of listed companies with USD 40,719,661 bil followed by China and Japan. On the other end of the scale was Algeria with USD 371 bil, Cayman Islands with USD 644 bil and Seychelles with USD 1,137 bil.

Total market capitalisation of listed companies reached USD 93,686,226 bil in 2020 in the World according to OECD. This is 15.9 % more than in the previous year and 42.1 % more than 10 years ago.

Historically, total market capitalisation of listed companies reached an all time high of USD 93,686,226 bil in 2020 and an all time low of USD 1,148,844 bil in 1975. The average annual growth amounted to 10.3 % since 1975.

The top ranked country, USA, accounted for 43.5 % of market capitalisation of listed companies in the world. The top 3 countries hold a 63.7 % share while the ten largest countries some 91.7 % in 2020.

Data for more countries are available at Market Capitalisation of Listed Companies (USD) indicator page.

Market Capitalisation of Listed Companies (USD) Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Australia USD bil 1,288,708 1,187,083 1,268,494 1,508,463 1,262,800
Belgium USD bil 378,526 414,556 378,144 437,794 321,094 ...
Canada USD bil 2,095,421 1,593,399 1,993,523 2,367,060 1,937,903
China USD bil 6,004,948 8,188,019 7,320,738 8,711,267 6,324,880
France USD bil 2,085,896 2,088,317 2,159,047 2,749,315 2,365,950 ...
Germany USD bil 1,738,539 1,715,800 1,716,042 2,262,223 1,755,173
Hong Kong USD bil 3,233,031 3,184,874 3,193,236 4,350,515 3,819,215
India USD bil 1,686,708 1,745,169 1,746,297 2,555,989 2,282,311
Iran USD bil 116,638 89,428 101,008 106,329 143,548
Japan USD bil 4,377,994 4,894,919 4,955,300 6,222,825 5,296,811
Saudi Arabia USD bil 483,116 421,060 448,831 451,379 496,353
South Africa USD bil 933,931 735,945 951,320 1,230,977 865,328
South Korea USD bil 1,212,759 1,231,200 1,254,541 1,771,768 1,413,717
Switzerland USD bil 1,495,314 1,519,323 1,403,356 1,686,497 1,441,160
USA USD bil 26,330,589 25,067,540 27,352,201 32,120,703 30,436,313