Kazakhstan Market Capitalization
Market capitalization of listed domestic companies as % of GDP CM.MKT.LCAP.GD.ZS
Kazakhstan's market capitalization was 20.30% in 2025, ranked 47th globally. This represents a 5.8% decrease from 2024. Data from World Bank, covering 1998–2025.
Overview
Kazakhstan's market capitalization stood at 20.30% in 2025, a decline of +1.25% from 2024. Based on recent trends, this figure is projected to reach 20.30% by 2025. Kazakhstan ranked 47th globally.
Kazakhstan’s market‑capitalization ratio has risen from 7.65 in 1998 to 20.30 in 2025, placing the country 47th in the World Bank ranking and situating it alongside peers such as Poland (19.89) and Austria (21.13). The index experienced a dramatic surge to an all‑time peak of 53.93 in 2006, reflecting the boom in commodity‑linked equities that followed the early‑2000s oil price rally, before falling to a trough of 5.23 in 2002 amid the post‑Soviet market adjustment. Over the 25‑year span, the trajectory has been upward‑sloping, driven by expanding capital markets, reforms in corporate governance, and increased foreign investor participation. Nevertheless, the gap between the 2006 peak and current levels indicates that further deepening of the stock market, diversification beyond natural resources, and sustained regulatory improvements will be crucial for Kazakhstan to close the distance to the higher‑ranked peers and sustain its growth path.
Data & projection
| Year | Market Capitalization | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 17.82% | - | - |
| 2026* trend | 19.06% | - | - |
| 2025* trend | 20.30% | - | - |
| 2025 | 20.30% | −1.25% | #47 |
| 2024 | 21.55% | −1.01% | #43 |
| 2023 | 22.56% | +2.26% | #48 |
| 2022 | 20.31% | −13.07% | #51 |
| 2021 | 33.38% | +11.02% | #41 |
| 2020 | 22.36% | −0.03% | #50 |
| 2019 | 22.39% | +1.76% | #52 |
| 2018 | 20.63% | −6.68% | #55 |
| 2017 | 27.31% | −1.94% | #50 |
| 2016 | 29.26% | +10.33% | #48 |
| 2015 | 18.92% | +8.55% | #61 |
| 2014 | 10.38% | −0.71% | #69 |
| 2013 | 11.08% | −0.23% | #68 |
| 2012 | 11.32% | −0.38% | #60 |
| 2011 | 11.70% | −6.32% | #71 |
Detected Pattern
Analysis
Kazakhstan matched the Export Boom Cycle pattern in 2010. Historically, 71% of countries showing this pattern (546 out of 768) saw market capitalization improve within 24 months. View full analysis →
Frequently Asked Questions
Kazakhstan's market capitalization was 20.30% in 2025. Ranked 47th globally. This represents a 5.8% decrease from the previous year.
Kazakhstan's market capitalization peaked at 53.93% in 2006.
The lowest market capitalization in Kazakhstan was 5.23% in 2002.
Kazakhstan ranks 47th globally in market capitalization as of 2025.
The World Bank indicator code is CM.MKT.LCAP.GD.ZS. Data sourced from World Bank.
Kazakhstan's market capitalization is projected to reach 20.30% by 2025 based on trend extrapolation.
The market capitalization of Kazakhstan in 2025 was 20.30%. This ranks 47th in the world.
Cite this page
@misc{historysaid_kazakhstan_market-capitalization,
title = {Kazakhstan Market Capitalization},
url = {https://historysaid.com/kazakhstan/market-capitalization/},
publisher = {HistorySaid},
year = {2026}
}