Data / Rankings / Stock market turnover ratio / Countries

Countries by stock market turnover ratio

The United States had the highest stock market turnover ratio of 74 countries in 2008, at 407.6%. Slovakia had the lowest, at 0.4%. The median was 43.1% and the figure for the World was 249.6%. Source: the World Bank.

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Highest407.6United States
Lowest0.4Slovakia
Median43.174 countries
World249.6History

Map of countries, 2008

United Arab Emirates: 66.3 %Argentina: 8.4 %Austria: 128.6 %Australia: 122.8 %Bangladesh: 12.5 %Belgium: 114.1 %Bulgaria: 14.8 %Brazil: 96.3 %Canada: 145.4 %Switzerland: 160.5 %Côte d’Ivoire: 4.1 %Chile: 21.9 %China: 219.5 %Colombia: 20.6 %Costa Rica: 2.9 %Cyprus: 22.5 %Czechia: 78.9 %Germany: 377.2 %Egypt: 111.5 %Spain: 182.1 %France: 163.4 %United Kingdom: 146.4 %Ghana: 10.1 %Greece: 90.7 %Hong Kong: 118 %Croatia: 11.9 %Hungary: 149.3 %Indonesia: 76.8 %Ireland: 35.5 %Israel: 89.1 %India: 131.1 %Iran: 30 %Italy: 265.2 %Jordan: 75.8 %Japan: 199.3 %Kenya: 6.8 %South Korea: 252.2 %Cayman Islands: 0.9 %Kazakhstan: 16.1 %Lebanon: 17.9 %Sri Lanka: 22.6 %Luxembourg: 2.7 %Montenegro: 2.4 %Mauritius: 7.5 %Mexico: 36.3 %Malaysia: 43.5 %Namibia: 30.1 %Nigeria: 34.8 %Netherlands: 249.7 %Norway: 186.2 %New Zealand: 13.6 %Oman: 42.7 %Panama: 4.1 %Peru: 9.7 %Papua New Guinea: 0.6 %Philippines: 23.8 %Pakistan: 181 %Poland: 56.9 %Palestine: 47 %Portugal: 110.2 %Qatar: 63 %Romania: 8.1 %Serbia: 7.7 %Singapore: 95.5 %Slovenia: 11.5 %Slovakia: 0.4 %Thailand: 102.8 %Türkiye: 188.2 %United States: 407.6 %Vietnam: 82.1 %South Africa: 42 %
  • Under 8
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%, 2008. 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, 2008

United States: 407.6 %United States407.6Germany: 377.2 %Germany377.2Italy: 265.2 %Italy265.2South Korea: 252.2 %South Korea252.2Netherlands: 249.7 %Netherlands249.7China: 219.5 %China219.5Japan: 199.3 %Japan199.3Türkiye: 188.2 %Türkiye188.2Norway: 186.2 %Norway186.2Spain: 182.1 %Spain182.1Pakistan: 181 %Pakistan181France: 163.4 %France163.4Switzerland: 160.5 %Switzerland160.5Hungary: 149.3 %Hungary149.3United Kingdom: 146.4 %United Kingdom146.4Canada: 145.4 %Canada145.4India: 131.1 %India131.1Austria: 128.6 %Austria128.6Australia: 122.8 %Australia122.8Hong Kong: 118 %Hong Kong118Belgium: 114.1 %Belgium114.1Egypt: 111.5 %Egypt111.5Portugal: 110.2 %Portugal110.2Thailand: 102.8 %Thailand102.8Brazil: 96.3 %Brazil96.3Singapore: 95.5 %Singapore95.5Greece: 90.7 %Greece90.7Israel: 89.1 %Israel89.1Vietnam: 82.1 %Vietnam82.1Czechia: 78.9 %Czechia78.9Indonesia: 76.8 %Indonesia76.8Jordan: 75.8 %Jordan75.8United Arab Emirates: 66.3 %United Arab Emirates66.3Qatar: 63 %Qatar63Poland: 56.9 %Poland56.9Palestine: 47 %Palestine47Malaysia: 43.5 %Malaysia43.5Oman: 42.7 %Oman42.7South Africa: 42 %South Africa42Mexico: 36.3 %Mexico36.3United States: 407.6 %United States407.6Germany: 377.2 %Germany377.2Italy: 265.2 %Italy265.2South Korea: 252.2 %South Korea252.2Netherlands: 249.7 %Netherlands249.7China: 219.5 %China219.5Japan: 199.3 %Japan199.3Türkiye: 188.2 %Türkiye188.2Norway: 186.2 %Norway186.2Spain: 182.1 %Spain182.1Pakistan: 181 %Pakistan181France: 163.4 %France163.4Switzerland: 160.5 %Switzerland160.5Hungary: 149.3 %Hungary149.3United Kingdom: 146.4 %United Kingdom146.4Canada: 145.4 %Canada145.4India: 131.1 %India131.1Austria: 128.6 %Austria128.6Australia: 122.8 %Australia122.8Hong Kong: 118 %Hong Kong118Belgium: 114.1 %Belgium114.1Egypt: 111.5 %Egypt111.5Portugal: 110.2 %Portugal110.2Thailand: 102.8 %Thailand102.8Brazil: 96.3 %Brazil96.3Singapore: 95.5 %Singapore95.5Greece: 90.7 %Greece90.7Israel: 89.1 %Israel89.1Vietnam: 82.1 %Vietnam82.1Czechia: 78.9 %Czechia78.9Indonesia: 76.8 %Indonesia76.8Jordan: 75.8 %Jordan75.8United Arab Emirates: 66.3 %United Arab Emirates66.3Qatar: 63 %Qatar63Poland: 56.9 %Poland56.9Palestine: 47 %Palestine47Malaysia: 43.5 %Malaysia43.5Oman: 42.7 %Oman42.7South Africa: 42 %South Africa42Mexico: 36.3 %Mexico36.3
%. Source: World Bank, Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR). Retrieved 2026-10-12.

Full ranking

RankCountries2008 (%)Change on 2007
1United States407.6+192.5 pts
2Germany377.2+222.6 pts
3Italy265.2+58.8 pts
4South Korea252.2+81.3 pts
5Netherlands249.7+88.5 pts
6China219.5+78.8 pts
7Japan199.3+47.2 pts
8Türkiye188.2+74 pts
9Norway186.2+71.3 pts
10Spain182.1+55.5 pts
11Pakistan181+37.8 pts
12France163.4+57.7 pts
13Switzerland160.5+61.7 pts
14Hungary149.3+46.9 pts
15United Kingdom146.4+43.8 pts
16Canada145.4+65.6 pts
17India131.1+75.5 pts
18Austria128.6+74 pts
19Australia122.8+17 pts
20Hong Kong118+42.1 pts
21Belgium114.1+54 pts
22Egypt111.5+67.3 pts
23Portugal110.2+6.3 pts
24Thailand102.8+45.6 pts
25Brazil96.3+49.1 pts
26Singapore95.5+24.8 pts
27Greece90.7+44.8 pts
28Israel89.1+46.8 pts
29Vietnam82.1n/a
30Czechia78.9+24.1 pts
31Indonesia76.8+32 pts
32Jordan75.8+33.1 pts
33United Arab Emirates66.3+28.5 pts
34Qatar63+31.6 pts
35Poland56.9+14.3 pts
36Palestine47+10.8 pts
37Malaysia43.5-4 pts
38Oman42.7+16.8 pts
39South Africa42+10.9 pts
40Mexico36.3+6.6 pts
41Ireland35.5+18.3 pts
42Nigeria34.8+14.3 pts
43Namibia30.1+18.3 pts
44Iran30+11.4 pts
45Philippines23.8+0.2 pts
46Sri Lanka22.6+9.8 pts
47Cyprus22.5-3.4 pts
48Chile21.9+0.7 pts
49Colombia20.6+3.6 pts
50Lebanon17.9+8.9 pts
51Kazakhstan16.1-5.7 pts
52Bulgaria14.8-16.5 pts
53New Zealand13.6+1.1 pts
54Bangladesh12.5+4.4 pts
55Croatia11.9+5.6 pts
56Slovenia11.5+1.3 pts
57Bahrain10.4+6.6 pts
58Ghana10.1+4 pts
59Peru9.7-1.9 pts
60Argentina8.4-0.1 pts
61Romania8.1-1 pts
62Serbia7.7-2.7 pts
63Mauritius7.5+2.3 pts
64Kenya6.8-1.6 pts
65Bermuda5.3-0.6 pts
66Côte d’Ivoire4.1+2.1 pts
67Panama4.1-0.9 pts
68Costa Rica2.9-0.4 pts
69Luxembourg2.7+2.5 pts
70Montenegro2.4n/a
71Malta1.9+0.2 pts
72Cayman Islands0.9-2.6 pts
73Papua New Guinea0.6+0.2 pts
74Slovakia0.4-0.1 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. 27 countries with data in other periods have no value for 2008 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, 2008) [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, 2008. World Bank, 8 Oct. 2026, https://data.worldbank.org/indicator/CM.MKT.TRNR. Invokely, https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2008. 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, 2008. 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=2008.

Harvard

World Bank (2026) Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR), Countries by stock market turnover ratio, 2008 [Dataset]. Available at: https://data.worldbank.org/indicator/CM.MKT.TRNR, via Invokely: https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2008 (Accessed: 12 October 2026).

BibTeX
@misc{world_countries_by_stock_market_2008,
  author = {{World Bank}},
  title = {{Stocks traded, turnover ratio of domestic shares (\%) (CM.MKT.TRNR): Countries by stock market turnover ratio, 2008}},
  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=2008. 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, 2008
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=2008
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2008.
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 407.6% in 2008, according to the World Bank.

Which country has the lowest stock market turnover ratio?

Slovakia, with 0.4% in 2008.

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. 27 countries have no value for 2008 and are not ranked.

Stock market turnover ratio: other rankings

Countries: more rankings