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Türkiye's stock market more than doubled in value between 2011 and 2025, but it lagged behind the global expansion as equity markets worldwide added $108.2 trillion in market capitalization.
The value of listed domestic companies in Türkiye rose from $197.1 billion in 2011 to $404.3 billion in 2025, an increase of 105.2%, according to World Bank data.
Globally, equity market capitalization climbed from $49.6 trillion to $157.8 trillion over the same period, growing by 218.1%.
Despite more than doubling in value, Türkiye's share of global stock market capitalization fell from around 0.40% in 2011 to 0.26% in 2025 as other markets expanded faster.
China and the European Union each had $15.5 trillion in market capitalization in 2025, compared with $10.6 trillion in India and $7.6 trillion in Japan.
Türkiye's $404.3 billion market was just 2.6% the size of China's or the EU's, 3.8% of India's and 5.3% of Japan's.
The gap was even wider with the United States, whose market was roughly 170 times the size of Türkiye's and accounted for about 44% of global equity value.
Türkiye's own market capitalization followed a volatile path. It climbed to $315.2 billion in 2012 before falling to $138.4 billion in 2021 amid a steep depreciation of the Turkish lira. It then rebounded to $330 billion in 2022 and rose for three consecutive years, reaching $404.3 billion in 2025.
The U.S. added $53.3 trillion in market capitalization, according to SIFMA’s Capital Markets Fact Book. Its share of global equity value rose from 31% in 2011 to 44% in 2025, down from 47% in 2024.
China also made substantial gains, with its market expanding about 356% from its 2011 level. Growth was far from steady: capitalization rose to $8.2 trillion in 2015 before retreating to $6.3 trillion in 2018. It then surged to $14.4 trillion in 2021, fell to $10.9 trillion in 2023, and recovered over the following two years.
India recorded the fastest proportional growth among the individual markets in the comparison, expanding 430% from its 2011 level. Its capitalization reached $7.1 trillion in 2021 and $10.3 trillion in 2024, allowing it to overtake Japan, whose market value fell from $6.7 trillion to $6.5 trillion in 2021.
The European Union's market grew about 158% over the full period, despite several setbacks. After reaching $13.8 trillion in 2021, it dropped to $11 trillion in 2022 before recovering and reaching $15.5 trillion in 2025.
Among other major markets, Hong Kong's capitalization increased about 165% between 2011 and 2025, while Canada's grew 142%.
The United Kingdom recorded an increase of roughly 70%, and Australia's market expanded by about 67%.
The broader categories showed a similar divide. Other developed markets more than tripled in value, rising from $4.4 trillion to $14.4 trillion, an increase of about 227%.
Other emerging markets grew much more slowly, edging up from $6 trillion to $6.9 trillion, or 15%.
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