Belgium - Market capitalization of listed domestic companies (% of GDP)

Market capitalization of listed domestic companies (% of GDP) in Belgium was 59.10 as of 2018. Its highest value over the past 43 years was 97.04 in 2006, while its lowest value was 7.91 in 1980.

Definition: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values.

Source: World Federation of Exchanges database.

See also:

Year Value
1975 13.70
1976 13.22
1977 12.42
1978 12.35
1979 11.81
1980 7.91
1981 7.99
1982 9.30
1983 12.36
1984 14.81
1985 24.19
1986 31.11
1987 27.88
1988 36.22
1989 45.59
1990 31.87
1991 33.78
1992 27.30
1993 34.70
1994 34.35
1995 35.21
1996 42.55
1997 54.19
1998 94.39
1999 71.30
2000 77.06
2001 70.05
2002 49.37
2003 54.56
2004 74.01
2005 74.79
2006 97.04
2007 81.87
2008 32.32
2009 53.75
2010 55.82
2011 43.82
2012 60.37
2013 71.74
2014 70.70
2015 89.67
2016 79.43
2017 87.08
2018 59.10

Development Relevance: Stock market size can be measured in various ways, and each may produce a different ranking of countries. The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks. Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

Limitations and Exceptions: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

Statistical Concept and Methodology: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).

Aggregation method: Weighted average

Periodicity: Annual

General Comments: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and

Classification

Topic: Financial Sector Indicators

Sub-Topic: Capital markets