Countries with the Largest Stock Markets (Total USD) (2025)
Source: World Bank·25 countries·Updated 2025
The US dominates global equity markets. {#1} has the largest stock market at {#1_value}.
United States leads with stock market capitalization (USD) of $68.94T.
China ranks #2 at $15.51T.
India ranks #3 at $10.56T.
Japan ranks #4 at $7.61T.
Hong Kong SAR, China ranks #5 at $6.09T.
Top 25 Countries by Stock Market Capitalization (USD)
| # | Country | Stock Market Capitalization (USD) | Year |
|---|---|---|---|
| 1 |  United States | $68.94T | 2025 |
| 2 |  China | $15.51T | 2025 |
| 3 |  India | $10.56T | 2025 |
| 4 |  Japan | $7.61T | 2025 |
| 5 |  Hong Kong SAR, China | $6.09T | 2025 |
| 6 |  Canada | $4.62T | 2025 |
| 7 |  United Kingdom | $3.10T | 2022 |
| 8 |  Germany | $2.90T | 2025 |
| 9 |  Korea, Rep. | $2.76T | 2025 |
| 10 |  Switzerland | $2.51T | 2025 |
| 11 |  Saudi Arabia | $2.36T | 2025 |
| 12 |  Australia | $2.05T | 2025 |
| 13 |  South Africa | $1.40T | 2025 |
| 14 |  Spain | $1.30T | 2025 |
| 15 |  United Arab Emirates | $1.11T | 2025 |
| 16 |  Indonesia | $949.59B | 2025 |
| 17 |  Brazil | $871.44B | 2025 |
| 18 |  Singapore | $824.34B | 2025 |
| 19 |  Russian Federation | $650.49B | 2023 |
| 20 |  Mexico | $560.41B | 2025 |
| 21 |  Thailand | $512.38B | 2025 |
| 22 |  Malaysia | $487.45B | 2025 |
| 23 |  Chile | $486.73B | 2025 |
| 24 |  Turkiye | $404.35B | 2025 |
| 25 |  Israel | $330.88B | 2024 |
Data from 79 countries is available. View full rankings →
FAQ
What is the highest stock market capitalization (USD) in 2025?
United States has the highest stock market capitalization (USD) at $68.94T in 2025.
How many countries are included in this ranking?
This article features the top 25 countries out of 79 with available data. Full rankings available on the indicator page.
Where does this data come from?
Data is sourced from the World Bank. It is updated regularly as new releases become available.