Listed domestic companies, total - Country Ranking

Definition: Listed domestic companies, including foreign companies which are exclusively listed, are those which have shares listed on an exchange at the end of the year. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status, are excluded. A company with several classes of shares is counted once. Only companies admitted to listing on the exchange are included.

Source: World Federation of Exchanges database.

See also: Thematic map, Time series comparison

Find indicator:
Rank Country Value Year
1 India 5,065.00 2018
2 United States 4,397.00 2018
3 Japan 3,652.00 2018
4 China 3,584.00 2018
5 Canada 3,330.00 2018
6 Spain 2,979.00 2018
7 Korea 2,186.00 2018
8 Hong Kong SAR, China 2,161.00 2018
9 Australia 2,004.00 2018
10 United Kingdom 1,858.00 2014
11 Malaysia 902.00 2018
12 Poland 823.00 2018
13 Vietnam 749.00 2018
14 Thailand 704.00 2018
15 Indonesia 619.00 2018
16 Bangladesh 593.00 2018
17 Pakistan 557.00 2014
18 Singapore 482.00 2018
19 Germany 465.00 2018
20 France 457.00 2018
21 Israel 420.00 2018
22 Bulgaria 381.00 2013
23 Turkey 377.00 2018
24 Brazil 334.00 2018
25 Iran 323.00 2018
26 Sri Lanka 297.00 2018
27 Italy 290.00 2014
28 South Africa 289.00 2018
29 Sweden 278.00 2002
30 Philippines 264.00 2018
31 Egypt 250.00 2018
32 Switzerland 236.00 2018
33 Russia 221.00 2018
34 Peru 211.00 2018
35 Chile 205.00 2018
36 Saudi Arabia 200.00 2018
37 Kuwait 196.00 2013
38 Jordan 195.00 2018
39 Norway 186.00 2018
40 Greece 183.00 2018
41 Denmark 178.00 2004
42 Nigeria 164.00 2018
43 Mexico 140.00 2018
44 Finland 134.00 2004
45 New Zealand 131.00 2018
46 United Arab Emirates 130.00 2018
47 Croatia 127.00 2018
48 Montenegro 112.00 2012
49 Belgium 111.00 2018
50 Oman 110.00 2018
51 Netherlands 103.00 2018
52 Mauritius 99.00 2018
53 Kazakhstan 97.00 2018
54 Argentina 93.00 2018
55 Cyprus 91.00 2018
56 Romania 85.00 2018
57 Tunisia 82.00 2018
58 Ukraine 78.00 2018
59 Jamaica 76.00 2018
60 Morocco 75.00 2018
61 Zimbabwe 69.00 1999
62 Slovak Republic 67.00 2013
62 Austria 67.00 2018
64 Colombia 66.00 2018
65 Kenya 65.00 2016
66 Latvia 56.00 2003
67 Belarus 55.00 2016
67 Paraguay 55.00 1999
69 Qatar 46.00 2018
70 Lithuania 45.00 2003
71 Hungary 43.00 2018
71 Ireland 43.00 2018
71 Bahrain 43.00 2018
74 Honduras 41.00 2001
75 Portugal 40.00 2018
76 Venezuela 37.00 2014
77 Iceland 34.00 2004
78 Slovenia 31.00 2018
79 Panama 30.00 2018
80 Ghana 29.00 2013
81 Luxembourg 27.00 2018
82 Trinidad and Tobago 26.00 2001
82 Ecuador 26.00 2000
82 Botswana 26.00 2018
82 Seychelles 26.00 2018
86 Malta 25.00 2018
87 Zambia 20.00 2011
88 Uruguay 17.00 1999
89 Barbados 16.00 2018
90 Czech Republic 15.00 2015
91 Estonia 14.00 2003
92 Lebanon 10.00 2018
92 Namibia 10.00 2018
92 Costa Rica 10.00 2018
95 Cayman Islands 6.00 2015
95 Papua New Guinea 6.00 2016
95 Eswatini 6.00 2007
98 Tanzania 4.00 2001
99 Azerbaijan 2.00 1999

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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 which can lower transaction costs and subsequently improve 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.

Limitations and Exceptions: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

Statistical Concept and Methodology: A company is considered domestic when it is incorporated in the same country as where the exchange is located. The only exception is the case of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange as defined in the domestic market capitalization definition).

Aggregation method: Sum

Periodicity: Annual

General Comments: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and