In Dimensional’s Matrix Book data, the world’s major market values are listed country by country under the “World Stock Market Capitalization” section. It is not surprising, of course, that the US is the world leader in stock market value. The stock market wealth of $40 trillion in the US is almost 60 percent of the value of all stocks in the world.
The world’s largest stock exchanges
- USA: $40 trillion (59%)
- Japan: $4.1 trillion (6%)
- United Kingdom: $2.6 trillion (4%)
- China: $2.5 trillion (4%)
- Canada: $2.1 trillion (3%)
- France: $1.8 trillion (3%)
- Switzerland: $1.6 trillion (2%)
- India: $1.4 trillion (2%)
- Australia: $1.4 trillion (2%)
- Germany: $1.3 trillion (2%)
Apple, the world’s third largest “stock market”
Here’s the fun part. Apple’s market cap of around $2.7 trillion this week even surpasses the entire market cap of the UK, the world’s third-largest stock market.
- Apple: $2.7 trillion
- United Kingdom: $2.6 trillion (595 companies)
- France: $1.8 trillion (235 companies)
- India: $1.4 trillion (1,242 companies)
- Germany: $1.3 trillion (255 companies)
Apple is not only larger than all 595 companies traded in the UK, but larger than all companies in France (235 companies) and India (1,242 companies). Apple is also twice the size of Germany’s entire stock market, with 255 companies.
On the other hand, this orientation towards technology and growth can affect the character of a country’s market. For example, although Germany is by far the largest country in Europe by GDP, its stock market is smaller than the UK, France and Italy. In other words, although the size of the stock market is an indicator of development, it would be wrong to say that it fully reflects this. Regardless, it’s incredible that Apple is bigger than the UK stock market and twice as big as the whole of Germany.