Which Stock Market is the Biggest by Country?

Market Capitalisation of Listed Companies (USD) (USD bil), 2024 or latest
Investments & Pensions | September 1, 2025
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Based on a comparison of 74 countries in 2024, USA ranked the highest in market capitalisation of listed companies with USD 62,185,685 bil followed by China and Japan. On the other end of the scale was Qatar with USD 170 bil, Seychelles with USD 811 bil and Azerbaijan with USD 1,635 bil.

Total market capitalisation of listed companies reached USD 114,462,422 bil in 2024 in the World according to OECD. This is 15.8 % more than in the previous year and 57.2 % more than 10 years ago.

Historically, total market capitalisation of listed companies reached an all time high of USD 114,462,422 bil in 2024 and an all time low of USD 1,148,844 bil in 1975. The average annual growth amounted to 9.78 % since 1975.

The top ranked country, USA, accounted for 56.0 % of market capitalisation of listed companies in the world. The top 3 countries hold a 72.3 % share while the ten largest countries some 92.9 % in 2024.

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

Market Capitalisation of Listed Companies (USD) Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Australia USD bil 1,262,800 1,487,599 1,720,556 1,887,401 1,679,172
Canada USD bil 1,937,903 2,409,099 2,641,455 3,302,817 2,760,871
China USD bil 6,324,880 8,569,512 12,276,766 14,437,446 11,469,346
Germany USD bil 1,755,173 2,098,174 2,284,109 2,503,046 1,889,664
Hong Kong USD bil 3,819,215 4,899,235 6,130,420 5,434,177 4,566,809
India USD bil 4,139,820 2,162,703 2,552,464 3,548,018 3,387,367
Indonesia USD bil 486,766 523,322 496,086 578,631 610,288 ...
Japan USD bil 5,296,811 6,191,073 6,718,220 6,544,303 5,380,475
Saudi Arabia USD bil 496,353 2,406,820 2,429,102 2,671,331 2,638,591
South Africa USD bil 865,328 1,056,341 1,051,529 1,143,003 1,171,748
South Korea USD bil 1,413,717 1,484,840 2,176,190 2,218,658 1,644,508
Switzerland USD bil 1,441,160 1,834,453 2,001,603 2,327,707 1,830,525
USA USD bil 30,436,313 34,085,727 41,569,862 48,548,538 40,297,980
United Arab Emirates USD bil 231,377 246,819 294,832 555,061 873,562
United Kingdom USD bil ... ... ... ... ... ... 3,799,459 3,095,983 ... ...