Data / Rankings / Stock market turnover ratio / Countries

Countries by stock market turnover ratio

Türkiye had the highest stock market turnover ratio of 74 countries in 2020, at 365.8%. Luxembourg had the lowest, at 0.1%. The median was 11.6% and the figure for the World was 107.7%. Source: the World Bank.

Highest365.8Türkiye
Lowest0.1Luxembourg
Median11.674 countries
World107.7History

Top 40 countries, 2020

Türkiye: 365.8 %Türkiye365.8China: 257.3 %China257.3South Korea: 238.5 %South Korea238.5Brazil: 139 %Brazil139United States: 98.8 %United States98.8Japan: 94.3 %Japan94.3Thailand: 88.6 %Thailand88.6Germany: 80.4 %Germany80.4Canada: 74 %Canada74India: 72.2 %India72.2Australia: 71.3 %Australia71.3Switzerland: 65.3 %Switzerland65.3Spain: 64.5 %Spain64.5Malaysia: 56.9 %Malaysia56.9Hong Kong: 50.1 %Hong Kong50.1Poland: 47 %Poland47Hungary: 40.4 %Hungary40.4Israel: 39.9 %Israel39.9Russia: 39.8 %Russia39.8Egypt: 38.9 %Egypt38.9Pakistan: 38.4 %Pakistan38.4South Africa: 35.3 %South Africa35.3Greece: 32.3 %Greece32.3Vietnam: 30.6 %Vietnam30.6Kuwait: 30.1 %Kuwait30.1Austria: 30.1 %Austria30.1Indonesia: 26.4 %Indonesia26.4Mexico: 20.7 %Mexico20.7Saudi Arabia: 20 %Saudi Arabia20Bangladesh: 17.6 %Bangladesh17.6Iran: 16.9 %Iran16.9New Zealand: 16.8 %New Zealand16.8Czechia: 15.9 %Czechia15.9Qatar: 14 %Qatar14United Arab Emirates: 12.7 %United Arab Emirates12.7Philippines: 12 %Philippines12Sri Lanka: 11.6 %Sri Lanka11.6Romania: 11.5 %Romania11.5Chile: 11.2 %Chile11.2Bermuda: 11 %Bermuda11
%. Source: World Bank, Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR). Retrieved 2026-10-12.

Full ranking

RankCountries2020 (%)Change on 2019
1Türkiye365.8+177.8 pts
2China257.3+44.3 pts
3South Korea238.5+108.7 pts
4Brazil139+51.5 pts
5United States98.8-7.8 pts
6Japan94.3+12 pts
7Thailand88.6+24.1 pts
8Germany80.4+15.4 pts
9Canada74+14.5 pts
10India72.2+16.3 pts
11Australia71.3+15.2 pts
12Switzerland65.3+12.7 pts
13Spain64.5+1.7 pts
14Malaysia56.9+30.1 pts
15Hong Kong50.1+12.9 pts
16Poland47+13.8 pts
17Hungary40.4+14.1 pts
18Israel39.9+11.1 pts
19Russia39.8+17 pts
20Egypt38.9+14.7 pts
21Pakistan38.4n/a
22South Africa35.3+2.2 pts
23Greece32.3+3.6 pts
24Vietnam30.6+9.5 pts
25Kuwait30.1+27 pts
26Austria30.1+5 pts
27Indonesia26.4+3.9 pts
28Mexico20.7+0.2 pts
29Saudi Arabia20+10.8 pts
30Bangladesh17.6-2.8 pts
31Iran16.9-8.4 pts
32New Zealand16.8+5.2 pts
33Czechia15.9+1.3 pts
34Qatar14+5.7 pts
35United Arab Emirates12.7+0.9 pts
36Philippines12+1.1 pts
37Sri Lanka11.6+5.6 pts
38Romania11.5+3.7 pts
39Chile11.2+1.9 pts
40Bermuda11+9.5 pts
41Colombia9.4-1.1 pts
42Argentina8.8+1.3 pts
43Jordan8.1+0.1 pts
44Oman6.3-3.7 pts
45Tunisia6.2+0.8 pts
46Morocco5.6+0.7 pts
47Palestine5.5-1.8 pts
48Slovenia5.5+3.6 pts
49Mauritius5+0.7 pts
50Nigeria4.5-1.7 pts
51Lebanon3.5+0.9 pts
52Peru2.4+0.8 pts
53Bahrain2.4-0.4 pts
54Kenya2.3+0.4 pts
55Namibia2-1.8 pts
56Botswana1.9-2.6 pts
57Croatia1.7+0.2 pts
58Costa Rica1.6-0.1 pts
59Panama1.5-0.7 pts
60Malta1.4-0.5 pts
61Azerbaijan1.2+1.1 pts
62Bulgaria1.2+0.1 pts
63Kazakhstan1.1+0.2 pts
64Cyprus0.8-0.5 pts
65Seychelles0.8-0.1 pts
66Uzbekistan0.6n/a
67Rwanda0.5+0.3 pts
68Jamaica0.4-4.6 pts
69Ghana0.4+0.3 pts
70Zambia0.3n/a
71Tanzania0.3n/a
72Barbados0.2-0.2 pts
73Cayman Islands0.2-0.7 pts
74Luxembourg0.1-0 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 2020 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, 2020) [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, 2020. World Bank, 8 Oct. 2026, https://data.worldbank.org/indicator/CM.MKT.TRNR. Invokely, https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2020. 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, 2020. 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=2020.

Harvard

World Bank (2026) Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR), Countries by stock market turnover ratio, 2020 [Dataset]. Available at: https://data.worldbank.org/indicator/CM.MKT.TRNR, via Invokely: https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2020 (Accessed: 12 October 2026).

BibTeX
@misc{world_countries_by_stock_market_2020,
  author = {{World Bank}},
  title = {{Stocks traded, turnover ratio of domestic shares (\%) (CM.MKT.TRNR): Countries by stock market turnover ratio, 2020}},
  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=2020. 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, 2020
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=2020
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/stock-market-turnover-ratio/countries?period=2020.
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?

Türkiye, with 365.8% in 2020, according to the World Bank.

Which country has the lowest stock market turnover ratio?

Luxembourg, with 0.1% in 2020.

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 2020 and are not ranked.

Stock market turnover ratio: other rankings

Countries: more rankings