Data / Rankings / Stock market turnover ratio / Countries

Countries by stock market turnover ratio

Pakistan had the highest stock market turnover ratio of 72 countries in 2006, at 278%. Eswatini had the lowest, at 0%. The median was 23.7% and the figure for the World was 112.9%. Source: the World Bank.

Highest278Pakistan
Lowest0Eswatini
Median23.772 countries
World112.9History

Top 40 countries, 2006

Pakistan: 278 %Pakistan278South Korea: 160.5 %South Korea160.5United States: 156.3 %United States156.3Türkiye: 140.8 %Türkiye140.8Japan: 119.2 %Japan119.2Germany: 119.1 %Germany119.1Italy: 117.8 %Italy117.8Netherlands: 115.6 %Netherlands115.6Spain: 113.3 %Spain113.3China: 101.2 %China101.2Norway: 100.7 %Norway100.7France: 83 %France83Australia: 78.4 %Australia78.4Hungary: 73.9 %Hungary73.9United Kingdom: 73.1 %United Kingdom73.1Canada: 72.7 %Canada72.7India: 71.2 %India71.2Thailand: 69.2 %Thailand69.2Czechia: 64.9 %Czechia64.9Portugal: 63.4 %Portugal63.4Kuwait: 53.4 %Kuwait53.4Egypt: 51.7 %Egypt51.7Singapore: 48.4 %Singapore48.4Hong Kong: 44.1 %Hong Kong44.1Greece: 43.1 %Greece43.1Austria: 43 %Austria43Brazil: 39.3 %Brazil39.3Israel: 39.1 %Israel39.1Poland: 35.8 %Poland35.8Belgium: 34.1 %Belgium34.1Malaysia: 29.4 %Malaysia29.4Indonesia: 29 %Indonesia29Colombia: 27.8 %Colombia27.8Lebanon: 24.7 %Lebanon24.7South Africa: 24.4 %South Africa24.4Palestine: 23.9 %Palestine23.9Mexico: 23.5 %Mexico23.5Cyprus: 19.5 %Cyprus19.5Oman: 18.1 %Oman18.1Bulgaria: 18.1 %Bulgaria18.1
%. Source: World Bank, Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR). Retrieved 2026-10-12.

Full ranking

RankCountries2006 (%)Change on 2005
1Pakistan278-29.7 pts
2South Korea160.5-6.6 pts
3United States156.3+4.6 pts
4Türkiye140.8+15.9 pts
5Japan119.2+24.3 pts
6Germany119.1+12 pts
7Italy117.8-14.4 pts
8Netherlands115.6+15.2 pts
9Spain113.3+11 pts
10China101.2+3.5 pts
11Norway100.7+26.5 pts
12France83+10.7 pts
13Australia78.4+2.2 pts
14Hungary73.9+5.9 pts
15United Kingdom73.1+16.5 pts
16Canada72.7+9.9 pts
17India71.2-4.7 pts
18Thailand69.2-3.3 pts
19Czechia64.9-33.6 pts
20Portugal63.4+10 pts
21Kuwait53.4-35.6 pts
22Egypt51.7n/a
23Singapore48.4+3.1 pts
24Hong Kong44.1+4.1 pts
25Greece43.1+9.2 pts
26Austria43+8.7 pts
27Brazil39.3+3.3 pts
28Israel39.1+4.4 pts
29Poland35.8+7.9 pts
30Belgium34.1-2.8 pts
31Malaysia29.4+4.6 pts
32Indonesia29-5.2 pts
33Colombia27.8+8.9 pts
34Lebanon24.7+5.9 pts
35South Africa24.4+4.2 pts
36Palestine23.9-5.9 pts
37Mexico23.5+0.7 pts
38Cyprus19.5n/a
39Oman18.1-5.8 pts
40Bulgaria18.1+2.7 pts
41Chile15.9+1 pts
42Philippines13.50 pts
43Iran13-6.8 pts
44Sri Lanka12.6-6.3 pts
45New Zealand12.1-1.4 pts
46Kenya12+4.1 pts
47Namibia11+6.4 pts
48Nigeria11+2.2 pts
49Peru10.3+3.2 pts
50Serbia10.3+0.6 pts
51Ireland7.4+0.6 pts
52Slovenia7+0.9 pts
53Ghana6.8-1.6 pts
54Switzerland6.7+0.7 pts
55Argentina6.6-4.4 pts
56Bahrain6.5+2.5 pts
57Croatia6.5+0.6 pts
58Romania6.4-2.6 pts
59Bangladesh6.1-0.1 pts
60Malta6+2.6 pts
61Bermuda5.8+2.6 pts
62Kazakhstan5.6-4.3 pts
63Panama3.5+0.9 pts
64Costa Rica3.3+1.8 pts
65Mauritius3.2-2.8 pts
66Côte d’Ivoire2.6+1.1 pts
67Cayman Islands1n/a
68Zambia0.4-0 pts
69Papua New Guinea0.30 pts
70Luxembourg0.3-0.1 pts
71Slovakia0-0 pts
72Eswatini00 pts

Other periods

About this ranking

Value of domestic shares traded relative to their market capitalization, annualized by multiplying the monthly average by 12, in percent.

The denominator is market capitalization, rather than GDP. Compiled by WDI from the World Federation of Exchanges. A published zero is valid. The latest year varies by country.

Every value in the ranking comes from the same publisher and the same period, so the countries are compared on one definition. 29 countries with data in other periods have no value for 2006 and are left out rather than filled from another source. Equal values share a rank.

How to cite

World Bank, World Development Indicators. Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR). https://data.worldbank.org/indicator/CM.MKT.TRNR. Retrieved 2026-10-12. Licensed under CC BY 4.0.

Citation styles

The publisher is the author. Invokely is named only as the place the figures were read, where a style asks for it.

APA 7

World Bank. (2026). Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR) (Countries by stock market turnover ratio, 2006) [Data set]. Retrieved October 12, 2026, from https://data.worldbank.org/indicator/CM.MKT.TRNR

MLA 9

Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR), Countries by stock market turnover ratio, 2006. World Bank, 8 Oct. 2026, https://data.worldbank.org/indicator/CM.MKT.TRNR. Invokely, https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2006. Accessed 12 Oct. 2026.

Chicago (author-date)

World Bank. 2026. Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR). Countries by stock market turnover ratio, 2006. Dataset. Accessed October 12, 2026. https://data.worldbank.org/indicator/CM.MKT.TRNR. Also distributed by Invokely, https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2006.

Harvard

World Bank (2026) Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR), Countries by stock market turnover ratio, 2006 [Dataset]. Available at: https://data.worldbank.org/indicator/CM.MKT.TRNR, via Invokely: https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2006 (Accessed: 12 October 2026).

BibTeX
@misc{world_countries_by_stock_market_2006,
  author = {{World Bank}},
  title = {{Stocks traded, turnover ratio of domestic shares (\%) (CM.MKT.TRNR): Countries by stock market turnover ratio, 2006}},
  year = {2026},
  howpublished = {Data set},
  url = {https://data.worldbank.org/indicator/CM.MKT.TRNR},
  urldate = {2026-10-12},
  note = {Accessed via Invokely, https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2006. Publisher attribution: World Bank, World Development Indicators. Stocks traded, turnover ratio of domestic shares (\%) (CM.MKT.TRNR). https://data.worldbank.org/indicator/CM.MKT.TRNR. Retrieved 2026-10-12. Licensed under CC BY 4.0.},
}
RIS
TY  - DATA
AU  - World Bank
TI  - Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR): Countries by stock market turnover ratio, 2006
PY  - 2026
DA  - 2026/10/08
PB  - World Bank
DB  - Invokely
UR  - https://data.worldbank.org/indicator/CM.MKT.TRNR
L2  - https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2006
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2006.
N1  - Publisher attribution: World Bank, World Development Indicators. Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR). https://data.worldbank.org/indicator/CM.MKT.TRNR. Retrieved 2026-10-12. Licensed under CC BY 4.0.
ER  -
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Questions

Which country has the highest stock market turnover ratio?

Pakistan, with 278% in 2006, according to the World Bank.

Which country has the lowest stock market turnover ratio?

Eswatini, with 0% in 2006.

Where does this ranking come from?

Every value comes from one source and one period, so the places are comparable: World Bank, Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR). Retrieved 2026-10-12. 29 countries have no value for 2006 and are not ranked.

Stock market turnover ratio: other rankings

Countries: more rankings