# Countries by market capitalization of listed domestic companies, 2023

All 72 values come from World Bank for 2023, so the places are comparable. 30 countries have no value for that period and are not ranked.

- Indicator id: `stock_market_capitalization_gdp`
- Unit: % of GDP
- Definition: Year-end market value of listed domestic companies, based on share prices and shares outstanding, as a percentage of GDP.
- Source: World Bank, Market capitalization of listed domestic companies (% of GDP) (CM.MKT.LCAP.GD.ZS) (https://data.worldbank.org/indicator/CM.MKT.LCAP.GD.ZS)
- Publisher page: https://invokely.ai/en/publishers/world-bank
- Retrieved: 2026-10-12
- Citation: World Bank, World Development Indicators. Market capitalization of listed domestic companies (% of GDP) (CM.MKT.LCAP.GD.ZS). https://data.worldbank.org/indicator/CM.MKT.LCAP.GD.ZS. Retrieved 2026-10-12. Licensed under CC BY 4.0.
- Web page: https://invokely.ai/rankings/listed-market-capitalization-gdp/countries

| Rank | Place | % of GDP |
|---:|---|---:|
| 1 | Hong Kong | 1,043.9 |
| 2 | Iran | 450.2 |
| 3 | South Africa | 268.9 |
| 4 | Saudi Arabia | 247.4 |
| 5 | Switzerland | 220.2 |
| 6 | United Arab Emirates | 190.2 |
| 7 | United States | 176.1 |
| 8 | Canada | 141.1 |
| 9 | Japan | 140.2 |
| 10 | India | 124 |
| 11 | Singapore | 119 |
| 12 | South Korea | 106.7 |
| 13 | Australia | 103.1 |
| 14 | Thailand | 100.5 |
| 15 | Malaysia | 94.5 |
| 16 | Chile | 85.8 |
| 17 | Qatar | 80.5 |
| 18 | Kuwait | 79.3 |
| 19 | Luxembourg | 60.6 |
| 20 | Mauritius | 60.4 |
| 21 | China | 59.9 |
| 22 | Jamaica | 56.8 |
| 23 | Indonesia | 55.3 |
| 24 | Philippines | 54.1 |
| 25 | Israel | 51.5 |
| 26 | Germany | 47.7 |
| 27 | Spain | 47.5 |
| 28 | Brazil | 45.2 |
| 29 | Bahrain | 44.6 |
| 30 | Morocco | 43.5 |
| 31 | Vietnam | 43.3 |
| 32 | Jordan | 42.6 |
| 33 | New Zealand | 37.7 |
| 34 | Greece | 33.5 |
| 35 | Mexico | 32.1 |
| 36 | Russia | 31.8 |
| 37 | Peru | 31.7 |
| 38 | Seychelles | 30.2 |
| 39 | Croatia | 29.6 |
| 40 | Cyprus | 29.6 |
| 41 | Türkiye | 29.6 |
| 42 | Austria | 26.8 |
| 43 | Poland | 26.1 |
| 44 | Bangladesh | 25.5 |
| 45 | Palestine | 24.8 |
| 46 | Panama | 24.3 |
| 47 | Malta | 22.8 |
| 48 | Kazakhstan | 22.6 |
| 49 | Oman | 21.9 |
| 50 | Colombia | 21.6 |
| 51 | Rwanda | 19.8 |
| 52 | Namibia | 19 |
| 53 | Botswana | 18.5 |
| 54 | Hungary | 18.2 |
| 55 | Tunisia | 16.5 |
| 56 | Sri Lanka | 15.6 |
| 57 | Slovenia | 14.6 |
| 58 | Egypt | 14 |
| 59 | Romania | 13.8 |
| 60 | Uzbekistan | 12.8 |
| 61 | Zambia | 12.5 |
| 62 | Czechia | 10 |
| 63 | Pakistan | 9.6 |
| 64 | Nigeria | 9.5 |
| 65 | Kenya | 8.6 |
| 66 | Ghana | 7.7 |
| 67 | Bulgaria | 7.7 |
| 68 | Tanzania | 7.3 |
| 69 | Belarus | 4.7 |
| 70 | Bermuda | 2.2 |
| 71 | Azerbaijan | 2.2 |
| 72 | Armenia | 1.2 |