S&P Global Equity Indices (annual % change) - Country Ranking

Definition: S&P Global Equity Indices measure the U.S. dollar price change in the stock markets covered by the S&P/IFCI and S&P/Frontier BMI country indices.

Source: Standard & Poor's, Global Stock Markets Factbook and supplemental S&P data.

See also: Thematic map, Time series comparison

Find indicator:
Rank Country Value Year
1 Venezuela 79.04 2006
2 Brazil 62.57 2016
3 Peru 52.31 2016
4 Russia 48.73 2016
5 Pakistan 33.32 2016
6 Hungary 32.82 2016
7 Morocco 31.52 2016
8 Kazakhstan 29.60 2016
9 Ukraine 27.80 2016
10 Panama 25.61 2016
11 Namibia 24.17 2016
12 Jamaica 22.81 2016
13 Colombia 22.70 2016
14 Canada 22.56 2016
15 Thailand 21.64 2016
16 Bahrain 18.55 2016
17 South Africa 17.62 2016
18 Luxembourg 16.91 2016
19 Estonia 16.83 2016
20 Chile 16.66 2016
21 Indonesia 16.38 2016
22 Bulgaria 15.55 2016
23 Croatia 15.51 2016
24 Lithuania 14.56 2016
25 United Kingdom 14.43 2016
26 Argentina 13.98 2016
27 Norway 13.82 2016
28 United States 9.54 2016
29 United Arab Emirates 8.39 2016
30 Bangladesh 7.38 2016
31 Australia 7.01 2016
32 Germany 6.87 2016
33 New Zealand 6.74 2016
34 Oman 6.18 2016
35 Lebanon 4.99 2016
36 France 4.86 2016
37 Slovak Republic 4.43 2016
38 Austria 4.17 2016
39 Saudi Arabia 4.00 2016
40 Netherlands 2.92 2016
41 Poland 2.42 2016
42 Korea 2.25 2016
43 Qatar 2.19 2016
44 Latvia 1.81 2016
45 Mauritius 0.52 2016
46 Japan 0.42 2016
47 India -0.15 2016
48 Greece -0.23 2016
49 Jordan -0.29 2016
50 Singapore -0.47 2016
51 Vietnam -0.60 2016
52 Tunisia -0.98 2016
53 Finland -1.02 2016
54 Romania -1.11 2016
55 Côte d'Ivoire -1.26 2016
56 Sweden -1.47 2016
57 China -2.02 2016
58 Kuwait -2.04 2016
59 Cyprus -2.15 2016
60 Hong Kong SAR, China -3.07 2016
61 Philippines -3.28 2016
62 Spain -4.60 2016
63 Switzerland -6.13 2016
64 Czech Republic -6.58 2016
65 Malaysia -6.81 2016
66 Ireland -6.98 2016
67 Slovenia -7.33 2016
68 Belgium -7.74 2016
69 Turkey -9.24 2016
70 Portugal -9.76 2016
71 Sri Lanka -10.18 2016
72 Trinidad and Tobago -10.31 2016
73 Botswana -11.32 2016
74 Kenya -11.83 2016
75 Mexico -12.13 2016
76 Italy -13.00 2016
77 Denmark -14.03 2016
78 Israel -17.01 2016
79 Ecuador -19.01 2016
80 Ghana -19.26 2016
81 Zambia -19.33 2016
82 Egypt -22.85 2016
83 Nigeria -42.21 2016
84 Zimbabwe -83.79 2007

More rankings: Africa | Asia | Central America & the Caribbean | Europe | Middle East | North America | Oceania | South America | World |

Development Relevance: Stock market size can be measured in various ways, and each may produce a different ranking of countries. The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information. That lowers transaction costs, which in turn improves resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks. Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations. The S&P Global Equity Index Series covers approximately 11,000 securities from over 80 countries. It includes the S&P Global Broad Market Index (BMI), S&P Global 1200, S&P/IFCI, and S&P Frontier BMI. All indices are float-adjusted, market capitalization-weighted indices and include security classifications for country, size, style and industry. The S&P Global Broad Market Index (BMI) is a global index suite with a transparent, modular structure that has been fully float adjusted since 1989. This index series employs a transparent and consistent methodology across all countries and includes approximately 10,000 stocks from 26 developed and 20 emerging markets. The S&P Global 1200, a real-time, tradable global equity index covers approximately 70 percent of the world's market capitalization, giving a detail view of the world economy. It is a composite of seven headline regional indices: S&P 500®, S&P Europe 350, S&P TOPIX 150, S&P/TSX 60, S&P/ASX All Australian 50, S&P Asia 50 and S&P Latin America 40.

Limitations and Exceptions: The percentage change in stock market prices in U.S. dollars for developing economies is from Standard & Poor's Global Equity Indices (S&P IFCI) and Standard & Poor's Frontier Broad Market Index (BMI). The percentage change for France, Germany, Japan, the United Kingdom, and the United States is from local stock market prices. The indicator is an important measure of overall performance. Regulatory and institutional factors that can affect investor confidence, such as entry and exit restrictions, the existence of a securities and exchange commission, and the quality of laws to protect investors, may influence the functioning of stock markets. Because markets included in Standard & Poor's emerging markets category vary widely in level of development, it is best to look at the entire category to identify the most significant market trends. And it is useful to remember that stock market trends may be distorted by currency conversions, especially when a currency has registered a significant devaluation.

Statistical Concept and Methodology: Ratios of end-of-period levels in U.S. dollars over previous end-of-period values in U.S. dollars times 100. These indexes are widely used benchmarks for international portfolio management.

Periodicity: Annual