Data / Rankings / Stock market turnover ratio / Countries

Countries by stock market turnover ratio

The United States had the highest stock market turnover ratio of 73 countries in 2007, at 215.1%. Luxembourg had the lowest, at 0.1%. The median was 31.3% and the figure for the World was 146.9%. Source: the World Bank.

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Highest215.1United States
Lowest0.1Luxembourg
Median31.373 countries
World146.9History

Map of countries, 2007

United Arab Emirates: 37.7 %Argentina: 8.5 %Austria: 54.6 %Australia: 105.8 %Bangladesh: 8.1 %Belgium: 60.1 %Bulgaria: 31.3 %Brazil: 47.1 %Canada: 79.8 %Switzerland: 98.8 %Côte d’Ivoire: 2 %Chile: 21.2 %China: 140.8 %Colombia: 16.9 %Costa Rica: 3.3 %Cyprus: 25.9 %Czechia: 54.8 %Germany: 154.6 %Egypt: 44.2 %Spain: 126.6 %France: 105.7 %United Kingdom: 102.6 %Ghana: 6.1 %Greece: 45.9 %Hong Kong: 75.9 %Croatia: 6.2 %Hungary: 102.4 %Indonesia: 44.8 %Ireland: 17.1 %Israel: 42.4 %India: 55.6 %Iran: 18.6 %Italy: 206.4 %Jordan: 42.7 %Japan: 152.1 %Kenya: 8.5 %South Korea: 170.8 %Cayman Islands: 3.5 %Kazakhstan: 21.8 %Lebanon: 9 %Sri Lanka: 12.8 %Luxembourg: 0.1 %Mauritius: 5.2 %Mexico: 29.6 %Malaysia: 47.5 %Namibia: 11.8 %Nigeria: 20.4 %Netherlands: 161.2 %Norway: 114.9 %New Zealand: 12.5 %Oman: 25.9 %Panama: 5 %Peru: 11.6 %Papua New Guinea: 0.4 %Philippines: 23.6 %Pakistan: 143.2 %Poland: 42.6 %Palestine: 36.3 %Portugal: 103.9 %Qatar: 31.3 %Romania: 9.1 %Serbia: 10.4 %Singapore: 70.7 %Slovenia: 10.2 %Slovakia: 0.5 %Eswatini: 1.5 %Thailand: 57.2 %Türkiye: 114.2 %United States: 215.1 %South Africa: 31.1 %
  • Under 8
  • 8 to 17
  • 17 to 34
  • 34 to 55
  • 55 to 110
  • 110 and over
  • No data
%, 2007. Hatched areas have no value for this period. Source: World Bank, Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR). Boundaries: Natural Earth (public domain).

Top 40 countries, 2007

United States: 215.1 %United States215.1Italy: 206.4 %Italy206.4South Korea: 170.8 %South Korea170.8Netherlands: 161.2 %Netherlands161.2Germany: 154.6 %Germany154.6Japan: 152.1 %Japan152.1Pakistan: 143.2 %Pakistan143.2China: 140.8 %China140.8Spain: 126.6 %Spain126.6Norway: 114.9 %Norway114.9Türkiye: 114.2 %Türkiye114.2Australia: 105.8 %Australia105.8France: 105.7 %France105.7Portugal: 103.9 %Portugal103.9United Kingdom: 102.6 %United Kingdom102.6Hungary: 102.4 %Hungary102.4Switzerland: 98.8 %Switzerland98.8Canada: 79.8 %Canada79.8Hong Kong: 75.9 %Hong Kong75.9Singapore: 70.7 %Singapore70.7Belgium: 60.1 %Belgium60.1Thailand: 57.2 %Thailand57.2India: 55.6 %India55.6Czechia: 54.8 %Czechia54.8Austria: 54.6 %Austria54.6Malaysia: 47.5 %Malaysia47.5Brazil: 47.1 %Brazil47.1Greece: 45.9 %Greece45.9Indonesia: 44.8 %Indonesia44.8Egypt: 44.2 %Egypt44.2Jordan: 42.7 %Jordan42.7Poland: 42.6 %Poland42.6Israel: 42.4 %Israel42.4United Arab Emirates: 37.7 %United Arab Emirates37.7Palestine: 36.3 %Palestine36.3Qatar: 31.3 %Qatar31.3Bulgaria: 31.3 %Bulgaria31.3South Africa: 31.1 %South Africa31.1Mexico: 29.6 %Mexico29.6Oman: 25.9 %Oman25.9United States: 215.1 %United States215.1Italy: 206.4 %Italy206.4South Korea: 170.8 %South Korea170.8Netherlands: 161.2 %Netherlands161.2Germany: 154.6 %Germany154.6Japan: 152.1 %Japan152.1Pakistan: 143.2 %Pakistan143.2China: 140.8 %China140.8Spain: 126.6 %Spain126.6Norway: 114.9 %Norway114.9Türkiye: 114.2 %Türkiye114.2Australia: 105.8 %Australia105.8France: 105.7 %France105.7Portugal: 103.9 %Portugal103.9United Kingdom: 102.6 %United Kingdom102.6Hungary: 102.4 %Hungary102.4Switzerland: 98.8 %Switzerland98.8Canada: 79.8 %Canada79.8Hong Kong: 75.9 %Hong Kong75.9Singapore: 70.7 %Singapore70.7Belgium: 60.1 %Belgium60.1Thailand: 57.2 %Thailand57.2India: 55.6 %India55.6Czechia: 54.8 %Czechia54.8Austria: 54.6 %Austria54.6Malaysia: 47.5 %Malaysia47.5Brazil: 47.1 %Brazil47.1Greece: 45.9 %Greece45.9Indonesia: 44.8 %Indonesia44.8Egypt: 44.2 %Egypt44.2Jordan: 42.7 %Jordan42.7Poland: 42.6 %Poland42.6Israel: 42.4 %Israel42.4United Arab Emirates: 37.7 %United Arab Emirates37.7Palestine: 36.3 %Palestine36.3Qatar: 31.3 %Qatar31.3Bulgaria: 31.3 %Bulgaria31.3South Africa: 31.1 %South Africa31.1Mexico: 29.6 %Mexico29.6Oman: 25.9 %Oman25.9
%. Source: World Bank, Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR). Retrieved 2026-10-12.

Full ranking

RankCountries2007 (%)Change on 2006
1United States215.1+58.8 pts
2Italy206.4+88.6 pts
3South Korea170.8+10.3 pts
4Netherlands161.2+45.7 pts
5Germany154.6+35.5 pts
6Japan152.1+32.9 pts
7Pakistan143.2-134.8 pts
8China140.8+39.6 pts
9Spain126.6+13.3 pts
10Norway114.9+14.2 pts
11Türkiye114.2-26.6 pts
12Australia105.8+27.4 pts
13France105.7+22.7 pts
14Portugal103.9+40.5 pts
15United Kingdom102.6+29.6 pts
16Hungary102.4+28.5 pts
17Switzerland98.8+92.1 pts
18Canada79.8+7.1 pts
19Hong Kong75.9+31.9 pts
20Singapore70.7+22.3 pts
21Belgium60.1+25.9 pts
22Thailand57.2-12 pts
23India55.6-15.6 pts
24Czechia54.8-10 pts
25Austria54.6+11.6 pts
26Malaysia47.5+18.2 pts
27Brazil47.1+7.8 pts
28Greece45.9+2.7 pts
29Indonesia44.8+15.8 pts
30Egypt44.2-7.6 pts
31Jordan42.7n/a
32Poland42.6+6.8 pts
33Israel42.4+3.3 pts
34United Arab Emirates37.7n/a
35Palestine36.3+12.4 pts
36Qatar31.3n/a
37Bulgaria31.3+13.2 pts
38South Africa31.1+6.7 pts
39Mexico29.6+6.2 pts
40Oman25.9+7.8 pts
41Cyprus25.9+6.4 pts
42Philippines23.6+10.1 pts
43Kazakhstan21.8+16.2 pts
44Chile21.2+5.3 pts
45Nigeria20.4+9.5 pts
46Iran18.6+5.6 pts
47Ireland17.1+9.7 pts
48Colombia16.9-10.9 pts
49Sri Lanka12.8+0.2 pts
50New Zealand12.5+0.5 pts
51Namibia11.8+0.8 pts
52Peru11.6+1.3 pts
53Serbia10.4+0.2 pts
54Slovenia10.2+3.2 pts
55Romania9.1+2.7 pts
56Lebanon9-15.7 pts
57Argentina8.5+1.9 pts
58Kenya8.5-3.5 pts
59Bangladesh8.1+2 pts
60Croatia6.2-0.2 pts
61Ghana6.1-0.7 pts
62Bermuda5.9+0.1 pts
63Mauritius5.2+2 pts
64Panama5+1.5 pts
65Bahrain3.9-2.7 pts
66Cayman Islands3.5+2.5 pts
67Costa Rica3.3-0 pts
68Côte d’Ivoire2-0.6 pts
69Malta1.7-4.3 pts
70Eswatini1.5+1.5 pts
71Slovakia0.5+0.4 pts
72Papua New Guinea0.4+0.1 pts
73Luxembourg0.1-0.2 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. 28 countries with data in other periods have no value for 2007 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, 2007) [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, 2007. World Bank, 8 Oct. 2026, https://data.worldbank.org/indicator/CM.MKT.TRNR. Invokely, https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2007. 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, 2007. 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=2007.

Harvard

World Bank (2026) Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR), Countries by stock market turnover ratio, 2007 [Dataset]. Available at: https://data.worldbank.org/indicator/CM.MKT.TRNR, via Invokely: https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2007 (Accessed: 12 October 2026).

BibTeX
@misc{world_countries_by_stock_market_2007,
  author = {{World Bank}},
  title = {{Stocks traded, turnover ratio of domestic shares (\%) (CM.MKT.TRNR): Countries by stock market turnover ratio, 2007}},
  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=2007. 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, 2007
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=2007
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2007.
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?

The United States, with 215.1% in 2007, according to the World Bank.

Which country has the lowest stock market turnover ratio?

Luxembourg, with 0.1% in 2007.

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. 28 countries have no value for 2007 and are not ranked.

Stock market turnover ratio: other rankings

Countries: more rankings