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The World’s Biggest Stock Markets, by Country

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See this visualization first on the Voronoi app.

Graphic illustrating the biggest stock markets by country

The World’s Biggest Stock Markets, by Country

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

In this graphic, we’ve visualized the global market capitalization of stock markets by country, based on figures from S&P Dow Jones Indices. More specifically, this is based on the methodology of the S&P Global Broad Market Index (BMI), which captures over 14,000 stocks from developed and emerging markets.

As a point of reference, we’ve also illustrated the size of the “Magnificent Seven” stocks within the U.S. total.

The numbers we used to create this graphic are as of Feb. 29, 2024, and are listed in the table below. Only countries with stock markets of at least $1 trillion in capitalization were included.

Country (or group)Market Cap
🇺🇸 U.S.$52.6T
Magnificent Seven$13.1T
🇨🇳 China$11.5T
🇯🇵 Japan$6.5T
🇮🇳 India$4.4T
🇫🇷 France$3.2T
🇬🇧 UK$3.1T
🇸🇦 Saudi Arabia$2.9T
🇨🇦 Canada$2.6T
🇩🇪 Germany$2.2T
🇹🇼 Taiwan$2.0T
🇨🇭 Switzerland$1.9T
🇰🇷 South Korea$1.8T
🇦🇺 Australia$1.6T
🇳🇱 Netherlands$1.1T

After the U.S., we can see that the three largest stock markets are all located in Asia.

India Climbs the Ranks

India’s total market capitalization rose above $4 trillion for the first time ever in early 2024, cementing the country as the world’s fourth largest equity market.

According to reporting from Bloomberg, the market capitalization of companies listed on Indian exchanges has grown by $1 trillion in under three years, making the country one of the best performing emerging markets.

Meanwhile, stock markets in China and Hong Kong have moved in the opposite direction, wiping out an estimated $6 trillion in valuation since their 2021 peak. The Hang Seng Index, Hong Kong’s primary stock index, has shrunk by more than 40% over the past five years.

Might of the Magnificent Seven

Although Tesla is down 28% YTD in 2024, the Magnificent Seven continues to dominate thanks to Nvidia’s rapid ascension into a $2 trillion company. Overall, the group accounts for roughly a quarter of the overall U.S. stock market.

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Mapped: The 10 U.S. States With the Lowest Real GDP Growth

In this graphic, we show where real GDP lagged the most across America in 2023 as high interest rates weighed on state economies.

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The Top 10 U.S. States, by Lowest Real GDP Growth

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

While the U.S. economy defied expectations in 2023, posting 2.5% in real GDP growth, several states lagged behind.

Last year, oil-producing states led the pack in terms of real GDP growth across America, while the lowest growth was seen in states that were more sensitive to the impact of high interest rates, particularly due to slowdowns in the manufacturing and finance sectors.

This graphic shows the 10 states with the least robust real GDP growth in 2023, based on data from the Bureau of Economic Analysis.

Weakest State Economies in 2023

Below, we show the states with the slowest economic activity in inflation-adjusted terms, using chained 2017 dollars:

RankStateReal GDP Growth 2023 YoYReal GDP 2023
1Delaware-1.2%$74B
2Wisconsin+0.2%$337B
3New York+0.7%$1.8T
4Missississippi+0.7%$115B
5Georgia+0.8%$661B
6Minnesota+1.2%$384B
7New Hampshire+1.2%$91B
8Ohio+1.2%$698B
9Iowa+1.3%$200B
10Illinois+1.3%$876B
U.S.+2.5%$22.4T

Delaware witnessed the slowest growth in the country, with real GDP growth of -1.2% over the year as a sluggish finance and insurance sector dampened the state’s economy.

Like Delaware, the Midwestern state of Wisconsin also experienced declines across the finance and insurance sector, in addition to steep drops in the agriculture and manufacturing industries.

America’s third-biggest economy, New York, grew just 0.7% in 2023, falling far below the U.S. average. High interest rates took a toll on key sectors, with notable slowdowns in the construction and manufacturing sectors. In addition, falling home prices and a weaker job market contributed to slower economic growth.

Meanwhile, Georgia experienced the fifth-lowest real GDP growth rate. In March 2024, Rivian paused plans to build a $5 billion EV factory in Georgia, which was set to be one of the biggest economic development initiatives in the state in history.

These delays are likely to exacerbate setbacks for the state, however, both Kia and Hyundai have made significant investments in the EV industry, which could help boost Georgia’s manufacturing sector looking ahead.

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