North America - Market capitalization of listed domestic companies (% of GDP)

Market capitalization of listed domestic companies (% of GDP) in North America was 191.82 as of 2020. Its highest value over the past 45 years was 191.82 in 2020, while its lowest value was 39.40 in 1981.

Definition: 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.

Source: World Federation of Exchanges database.

See also:

Year Value
1975 41.77
1976 47.14
1977 43.96
1978 40.53
1979 42.94
1980 52.55
1981 39.40
1982 45.50
1983 52.00
1984 42.09
1985 55.14
1986 57.99
1987 55.56
1988 56.18
1989 63.25
1990 54.17
1991 68.97
1992 70.35
1993 78.63
1994 72.64
1995 92.48
1996 107.57
1997 127.60
1998 144.42
1999 157.39
2000 144.36
2001 128.94
2002 102.09
2003 122.83
2004 132.15
2005 130.04
2006 140.50
2007 138.83
2008 77.59
2009 105.85
2010 117.09
2011 101.23
2012 114.96
2013 140.31
2014 146.99
2015 134.65
2016 144.72
2017 162.70
2018 144.90
2019 156.59
2020 191.82

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: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; 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; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).

Aggregation method: Weighted average

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

Classification

Topic: Financial Sector Indicators

Sub-Topic: Capital markets