EU countries by stock market turnover ratio

The Netherlands had the highest stock market turnover ratio of 22 EU countries in 2004, at 116.7%. Luxembourg had the lowest, at 0.8%. The median was 30.7%. Source: the World Bank.

Highest116.7Netherlands

Lowest0.8Luxembourg

Median30.722 EU countries

All EU countries, 2004

%. Source: World Bank, Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR). Retrieved 2026-10-12.

Full ranking

Rank	EU countries	2004 (%)	Change on 2003
1	Netherlands	116.7	+6.4 pts
2	Italy	114	-5.1 pts
3	Finland	102.7	+19.1 pts
4	Germany	98.9	+4.6 pts
5	Spain	91.5	+6.4 pts
6	France	84.9	+3.6 pts
7	Czechia	67	+10.4 pts
8	Portugal	52.8	+11.8 pts
9	Hungary	49.9	-3.3 pts
10	Denmark	45.1	+9 pts
11	Greece	31.9	+0.1 pts
12	Austria	29.5	+8.2 pts
13	Belgium	27.5	+3.7 pts
14	Poland	25.2	+4.3 pts
15	Bulgaria	16.3	+9.7 pts
16	Slovenia	8	+1 pts
17	Romania	7.6	+1.1 pts
18	Ireland	5.2	-1.9 pts
19	Croatia	4.2	+0.2 pts
20	Malta	3.5	+0.8 pts
21	Slovakia	0.8	-0.6 pts
22	Luxembourg	0.8	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 EU countries are compared on one definition. 2 EU countries with data in other periods have no value for 2004 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) (EU countries by stock market turnover ratio, 2004) [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), EU countries by stock market turnover ratio, 2004. World Bank, 8 Oct. 2026, https://data.worldbank.org/indicator/CM.MKT.TRNR. Invokely, https://invokely.ai/rankings/stock-market-turnover-ratio/eu-countries?period=2004. Accessed 12 Oct. 2026.

Chicago (author-date)

World Bank. 2026. Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR). EU countries by stock market turnover ratio, 2004. 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/eu-countries?period=2004.

Harvard

World Bank (2026) Stocks traded, turnover ratio of domestic shares (%) (CM.MKT.TRNR), EU countries by stock market turnover ratio, 2004 [Dataset]. Available at: https://data.worldbank.org/indicator/CM.MKT.TRNR, via Invokely: https://invokely.ai/rankings/stock-market-turnover-ratio/eu-countries?period=2004 (Accessed: 12 October 2026).

BibTeX

@misc{world_eu_countries_by_stock_2004,
  author = {{World Bank}},
  title = {{Stocks traded, turnover ratio of domestic shares (\%) (CM.MKT.TRNR): EU countries by stock market turnover ratio, 2004}},
  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/eu-countries?period=2004. 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): EU countries by stock market turnover ratio, 2004
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/eu-countries?period=2004
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/stock-market-turnover-ratio/eu-countries?period=2004.
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 EU country has the highest stock market turnover ratio?

The Netherlands, with 116.7% in 2004, according to the World Bank.

Which EU country has the lowest stock market turnover ratio?

Luxembourg, with 0.8% in 2004.

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. 2 EU countries have no value for 2004 and are not ranked.

Stock market turnover ratio: other rankings

Countries