Belarus Market Capitalization
Market capitalization of listed domestic companies as % of GDP CM.MKT.LCAP.GD.ZS
Belarus's market capitalization was 6.40% in 2025, ranked 70th globally. This represents a 19.1% decrease from 2024. Data from World Bank, covering 2014–2025.
Overview
Belarus's market capitalization stood at 6.40% in 2025, a decline of +1.51% from 2024. Based on recent trends, this figure is projected to reach 6.40% by 2025. Belarus ranked 70th globally.
Belarus’s stock market has expanded dramatically since the earliest World Bank observation in 2014, when market capitalisation stood at just 0.73 % of GDP, the all‑time trough. Over the ensuing eight‑year span the share of GDP represented by listed equities rose to a peak of 7.91 % in 2024 before slipping slightly to 6.40 % in 2025, ranking the country 70th worldwide. This trajectory places Belarus marginally above Kenya (6.47 %) and Ghana (6.36 %) but well below Tanzania’s 7.97 % share, underscoring a relatively rapid deepening of its capital market despite a modest decline from the 2024 high. The post‑peak contraction may reflect tighter monetary conditions, limited foreign inflows, or domestic regulatory adjustments; however, continued reforms aimed at improving corporate governance and expanding the listed sector could restore upward momentum and push Belarus’s market capitalisation beyond its recent peak.
Data & projection
| Year | Market Capitalization | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 7.38% | - | - |
| 2026* trend | 6.89% | - | - |
| 2025* trend | 6.40% | - | - |
| 2025 | 6.40% | −1.51% | #70 |
| 2024 | 7.91% | +3.19% | #65 |
| 2023 | 4.72% | +1.34% | #68 |
| 2022 | 3.38% | −0.68% | #71 |
| 2021 | 4.06% | +1.47% | #72 |
| 2016 | 2.60% | +1.65% | #72 |
| 2015 | 0.95% | +0.22% | #73 |
| 2014 | 0.73% | – | #74 |
Detected Pattern
Analysis
Belarus matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw market capitalization improve within 24 months. View full analysis →
Frequently Asked Questions
Belarus's market capitalization was 6.40% in 2025. Ranked 70th globally. This represents a 19.1% decrease from the previous year.
Belarus's market capitalization peaked at 7.91% in 2024.
The lowest market capitalization in Belarus was 0.73% in 2014.
Belarus ranks 70th globally in market capitalization as of 2025.
The World Bank indicator code is CM.MKT.LCAP.GD.ZS. Data sourced from World Bank.
Belarus's market capitalization is projected to reach 6.40% by 2025 based on trend extrapolation.
The market capitalization of Belarus in 2025 was 6.40%. This ranks 70th in the world.
Cite this page
@misc{historysaid_belarus_market-capitalization,
title = {Belarus Market Capitalization},
url = {https://historysaid.com/belarus/market-capitalization/},
publisher = {HistorySaid},
year = {2026}
}