Market capitalization of listed domestic companies (current US$) by country
Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end...
Countries reporting
98
Highest
68.94 trillion current US$
United States
Lowest
234.26 million current US$
Eswatini
Median
69.85 billion current US$
Years covered
51
1975–2025
Data points
3,767
What the numbers show
Market capitalization of listed domestic companies (current US$) is currently reported for 98 countries. The highest value is 68.94 trillion current US$ in United States; the lowest is 234.26 million current US$ in Eswatini.
The median across all reporting countries is 69.85 billion current US$, and the mean is 1.51 trillion current US$.
Over the past decade 84 countries rose and 14 fell. The largest increase was in Armenia (up 10,038.2%), and the largest decrease in Ukraine (down 88.6%).
Market capitalization of listed domestic companies: full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | United States | 68.94 trillion current US$ | 2025 | up 175.0% | volatile |
| 2 | China | 15.51 trillion current US$ | 2025 | up 89.4% | volatile |
| 3 | India | 10.56 trillion current US$ | 2025 | up 505.1% | volatile |
| 4 | Japan | 7.61 trillion current US$ | 2025 | up 55.5% | volatile |
| 5 | Hong Kong | 6.09 trillion current US$ | 2025 | up 91.2% | volatile |
| 6 | Canada | 4.62 trillion current US$ | 2025 | up 190.0% | volatile |
| 7 | United Kingdom | 3.10 trillion current US$ | 2022 | down 5.9% | volatile |
| 8 | Germany | 2.90 trillion current US$ | 2025 | up 68.9% | volatile |
| 9 | South Korea | 2.76 trillion current US$ | 2025 | up 123.9% | volatile |
| 10 | Switzerland | 2.51 trillion current US$ | 2025 | up 65.5% | volatile |
| 11 | France | 2.37 trillion current US$ | 2018 | up 60.7% | volatile |
| 12 | Saudi Arabia | 2.36 trillion current US$ | 2025 | up 460.2% | volatile |
| 13 | Australia | 2.05 trillion current US$ | 2025 | up 72.5% | volatile |
| 14 | South Africa | 1.40 trillion current US$ | 2025 | up 90.0% | volatile |
| 15 | Spain | 1.30 trillion current US$ | 2025 | up 64.8% | volatile |
| 16 | United Arab Emirates | 1.11 trillion current US$ | 2025 | up 467.4% | volatile |
| 17 | Netherlands | 1.10 trillion current US$ | 2017 | up 15.1% | volatile |
| 18 | Indonesia | 949.59 billion current US$ | 2025 | up 168.8% | volatile |
| 19 | Brazil | 871.44 billion current US$ | 2025 | up 77.7% | rising |
| 20 | Singapore | 824.34 billion current US$ | 2025 | up 28.8% | volatile |
| 21 | Russia | 650.49 billion current US$ | 2023 | down 15.6% | falling |
| 22 | Italy | 587.31 billion current US$ | 2014 | down 25.6% | volatile |
| 23 | Mexico | 560.41 billion current US$ | 2025 | up 39.3% | volatile |
| 24 | Thailand | 512.38 billion current US$ | 2025 | up 46.9% | volatile |
| 25 | Malaysia | 487.45 billion current US$ | 2025 | up 27.3% | volatile |
| 26 | Chile | 486.73 billion current US$ | 2025 | up 155.7% | volatile |
| 27 | Turkey | 404.35 billion current US$ | 2025 | up 114.1% | volatile |
| 28 | Israel | 330.88 billion current US$ | 2024 | up 65.0% | volatile |
| 29 | Belgium | 321.09 billion current US$ | 2018 | up 92.0% | volatile |
| 30 | Poland | 316.50 billion current US$ | 2025 | up 129.7% | volatile |
| 31 | Vietnam | 316.00 billion current US$ | 2025 | up 438.0% | volatile |
| 32 | Norway | 295.55 billion current US$ | 2019 | up 30.1% | volatile |
| 33 | Sweden | 289.88 billion current US$ | 2003 | up 188.4% | volatile |
| 34 | Philippines | 232.06 billion current US$ | 2025 | down 2.8% | volatile |
| 35 | Austria | 211.15 billion current US$ | 2025 | up 119.8% | volatile |
| 36 | Iran | 185.64 billion current US$ | 2025 | up 107.6% | volatile |
| 37 | Qatar | 176.91 billion current US$ | 2025 | up 24.1% | rising |
| 38 | Kuwait | 172.13 billion current US$ | 2025 | up 79.1% | volatile |
| 39 | Kazakhstan | 158.41 billion current US$ | 2025 | up 354.0% | volatile |
| 40 | Denmark | 151.35 billion current US$ | 2004 | up 222.0% | volatile |
| 41 | Colombia | 132.51 billion current US$ | 2025 | up 54.2% | falling |
| 42 | Greece | 128.98 billion current US$ | 2025 | up 206.5% | volatile |
| 43 | Morocco | 114.01 billion current US$ | 2025 | up 148.2% | rising |
| 44 | Ireland | 110.15 billion current US$ | 2018 | up 122.6% | rising |
| 45 | Peru | 105.16 billion current US$ | 2025 | up 85.9% | volatile |
| 46 | New Zealand | 103.17 billion current US$ | 2025 | up 38.8% | volatile |
| 47 | Nigeria | 86.94 billion current US$ | 2025 | up 74.0% | volatile |
| 48 | Romania | 70.89 billion current US$ | 2025 | up 282.4% | volatile |
| 49 | Pakistan | 70.29 billion current US$ | 2025 | up 26.6% | volatile |
| 50 | Luxembourg | 69.41 billion current US$ | 2025 | up 47.3% | volatile |
| 51 | Egypt | 62.88 billion current US$ | 2025 | up 13.9% | falling |
| 52 | Hungary | 62.59 billion current US$ | 2025 | up 253.9% | rising |
| 53 | Portugal | 61.93 billion current US$ | 2018 | down 10.1% | rising |
| 54 | Czechia | 55.36 billion current US$ | 2025 | up 105.3% | volatile |
| 55 | Argentina | 52.95 billion current US$ | 2022 | up 54.6% | volatile |
| 56 | Oman | 41.30 billion current US$ | 2025 | up 0.4% | volatile |
| 57 | Croatia | 37.90 billion current US$ | 2025 | up 105.8% | volatile |
| 58 | Jordan | 37.37 billion current US$ | 2025 | up 46.8% | falling |
| 59 | Cyprus | 27.93 billion current US$ | 2025 | up 937.2% | volatile |
| 60 | Panama | 27.18 billion current US$ | 2025 | up 106.3% | volatile |
| 61 | Bangladesh | 26.22 billion current US$ | 2025 | down 60.0% | volatile |
| 62 | Sri Lanka | 26.11 billion current US$ | 2025 | up 25.5% | volatile |
| 63 | Uzbekistan | 23.70 billion current US$ | 2025 | up 353.2% | volatile |
| 64 | Kenya | 22.83 billion current US$ | 2025 | up 123.8% | volatile |
| 65 | Bahrain | 21.31 billion current US$ | 2025 | up 10.7% | rising |
| 66 | Slovenia | 20.74 billion current US$ | 2025 | up 243.6% | volatile |
| 67 | Finland | 20.34 billion current US$ | 2004 | down 46.8% | volatile |
| 68 | Ghana | 16.44 billion current US$ | 2025 | up 430.7% | volatile |
| 69 | Zambia | 14.91 billion current US$ | 2025 | up 368.1% | volatile |
| 70 | Tunisia | 11.98 billion current US$ | 2025 | up 35.9% | rising |
| 71 | Jamaica | 11.59 billion current US$ | 2025 | up 96.4% | volatile |
| 72 | Bulgaria | 11.18 billion current US$ | 2025 | down 28.6% | volatile |
| 73 | Lebanon | 10.58 billion current US$ | 2021 | up 16.9% | volatile |
| 74 | Tanzania | 9.78 billion current US$ | 2025 | up 148.3% | volatile |
| 75 | Mauritius | 8.89 billion current US$ | 2025 | up 22.8% | volatile |
| 76 | Cote d'Ivoire | 7.33 billion current US$ | 2020 | up 2.4% | volatile |
| 77 | Belarus | 5.54 billion current US$ | 2025 | up 937.2% | volatile |
| 78 | Slovakia | 5.38 billion current US$ | 2014 | up 123.2% | volatile |
| 79 | Malta | 5.35 billion current US$ | 2025 | up 21.4% | rising |
| 80 | Palestine | 4.94 billion current US$ | 2025 | up 48.0% | volatile |
| 81 | Armenia | 4.85 billion current US$ | 2024 | up 10,038.2% | volatile |
| 82 | Ukraine | 4.42 billion current US$ | 2018 | down 88.6% | volatile |
| 83 | Botswana | 4.28 billion current US$ | 2025 | up 6.1% | volatile |
| 84 | Serbia | 4.06 billion current US$ | 2011 | up 184.3% | volatile |
| 85 | Venezuela | 3.98 billion current US$ | 2002 | down 49.0% | falling |
| 86 | Rwanda | 3.20 billion current US$ | 2025 | down 6.5% | falling |
| 87 | Barbados | 2.78 billion current US$ | 2020 | up 27.2% | volatile |
| 88 | Namibia | 2.48 billion current US$ | 2024 | up 6.1% | volatile |
| 89 | Zimbabwe | 2.46 billion current US$ | 1999 | up 71.1% | rising |
| 90 | Bermuda | 2.26 billion current US$ | 2025 | up 22.2% | falling |
| 91 | Costa Rica | 2.23 billion current US$ | 2022 | up 49.0% | rising |
| 92 | Papua New Guinea | 1.68 billion current US$ | 2017 | down 87.0% | volatile |
| 93 | Azerbaijan | 1.57 billion current US$ | 2025 | down 27.6% | volatile |
| 95 | Ecuador | 747.00 million current US$ | 2000 | down 70.9% | falling |
| 96 | Seychelles | 646.44 million current US$ | 2025 | up 127.8% | falling |
| 97 | Cayman Islands | 644.32 million current US$ | 2020 | up 170.7% | volatile |
| 98 | Algeria | 371.42 million current US$ | 2018 | up 306.7% | volatile |
| 99 | Eswatini | 234.26 million current US$ | 2007 | up 81.0% | volatile |
Regions and income groups
Aggregates are excluded from the country ranking above so that a region can never outrank a country.
- Channel Islands 1.48 billion current US$
- World 141.30 trillion current US$
- High income 108.35 trillion current US$
- Post-demographic dividend 100.31 trillion current US$
- OECD members 95.24 trillion current US$
- North America 73.56 trillion current US$
- East Asia & Pacific 40.67 trillion current US$
- IDA & IBRD total 33.89 trillion current US$
- IBRD only 33.59 trillion current US$
- Low & middle income 32.95 trillion current US$
- Middle income 32.94 trillion current US$
- Upper middle income 21.92 trillion current US$
About this data
Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.