Zambia Market Capitalization
Market capitalization of listed domestic companies as % of GDP CM.MKT.LCAP.GD.ZS
Zambia's market capitalization was 25.77% in 2025, ranked 38th globally. This represents a 16.0% decrease from 2024. Data from World Bank, covering 1995–2025.
Overview
Zambia's market capitalization stood at 25.77% in 2025, a decline of +4.92% from 2024. Based on recent trends, this figure is projected to reach 25.77% by 2025. Zambia ranked 38th globally.
Zambia’s market‑capitalization value rose from 11.24 in 1995 to a record 30.69 in 2024, before slipping slightly to 25.77 in 2025, placing the country 38th globally. The early‑1990s trough of 6.03 in 1996 reflects the severe fiscal constraints and low foreign‑direct investment that followed structural adjustment programmes, while the post‑2000 expansion coincides with reforms that liberalised the stock exchange and attracted mining‑sector listings. The 2024 peak surpassed the market sizes of peers such as Croatia (25.79) and New Zealand (25.63), underscoring Zambia’s relative progress among emerging markets despite a relatively short 17‑year data series. However, the modest decline from the 2024 high suggests sensitivity to commodity‑price volatility and exchange‑rate fluctuations, which dominate the Zambian economy. Continued diversification away from copper and deeper integration of domestic firms into global capital markets will be crucial to sustain the upward trajectory and prevent future reversals.
Data & projection
| Year | Market Capitalization | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 30.91% | - | - |
| 2026* trend | 28.34% | - | - |
| 2025* trend | 25.77% | - | - |
| 2025 | 25.77% | −4.92% | #38 |
| 2024 | 30.69% | +18.16% | #33 |
| 2023 | 12.53% | −1.31% | #60 |
| 2022 | 13.84% | −4.42% | #59 |
| 2021 | 18.26% | +3.28% | #57 |
| 2020 | 14.98% | +1.40% | #63 |
| 2011 | 13.57% | −9.57% | #67 |
| 2006 | 23.14% | −7.06% | #61 |
| 2005 | 30.21% | +3.68% | #47 |
| 2004 | 26.52% | +11.11% | #47 |
| 2003 | 15.42% | +8.09% | #54 |
| 2001 | 7.33% | −0.71% | #58 |
| 1999 | 8.04% | −0.04% | #58 |
| 1998 | 8.08% | −3.58% | #57 |
| 1997 | 11.66% | +5.63% | #53 |
Detected Pattern
Analysis
Zambia matched the Export Boom Cycle pattern in 2021. Historically, 71% of countries showing this pattern (546 out of 768) saw market capitalization improve within 24 months. View full analysis →
Frequently Asked Questions
Zambia's market capitalization was 25.77% in 2025. Ranked 38th globally. This represents a 16.0% decrease from the previous year.
Zambia's market capitalization peaked at 30.69% in 2024.
The lowest market capitalization in Zambia was 6.03% in 1996.
Zambia ranks 38th globally in market capitalization as of 2025.
The World Bank indicator code is CM.MKT.LCAP.GD.ZS. Data sourced from World Bank.
Zambia's market capitalization is projected to reach 25.77% by 2025 based on trend extrapolation.
The market capitalization of Zambia in 2025 was 25.77%. This ranks 38th in the world.
Cite this page
@misc{historysaid_zambia_market-capitalization,
title = {Zambia Market Capitalization},
url = {https://historysaid.com/zambia/market-capitalization/},
publisher = {HistorySaid},
year = {2026}
}