Country rankings

Bond Market Size by Country

United States has the highest Domestic & International Market Volume in 2025 ($49.87T), followed by China ($16.76T) and Japan ($10.44T). Zimbabwe has the lowest ($4M).

Economics180 countries · 8 metricsUpdated Sep 21, 2025Original page
1 source
Year 2025173 of 235 countries
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Domestic & International Market Volume, 2025

Darker means higher. Click a place to highlight it.

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Ranking

Highest first: the first 15 and last 5 of 173 countries.

Distribution Median and middle halfThe median is the middle value: half of places are above it, half below. The middle half is the range holding the central 50% of places.More in the glossary →

Each dot is one country; the lines mark the median and the middle half.

Median
$21.04B
Middle half $3.29B – $241.58B
Average
$779.6B
173 countries
Highest
$49.87T
United States
Lowest
$4M
Zimbabwe

Data

Click a column to sort, a row to highlight that place on the charts.

173 countries · # = rank by Domestic & International Market Volume
#
1United States$49.87T$39.05T$10.82T
2China$16.76T$16.16T$599.55B
3Japan$10.44T$9.92T$518.05B
4France$6.33T$5.6T$732.14B
5Germany$6.09T$4.96T$1.13T
6United Kingdom$5.57T$3.51T$2.06T
7Italy$4.12T$3.56T$566.48B
8Canada$3.75T$2.65T$1.1T
9India$2.93T$2.85T$79.17B
10Spain$2.73T$2.3T$427.84B
11Australia$1.74T$1.29T$444.76B
12Belgium$1.65T$1.63T$23.91B
13Netherlands$1.55T$611.58B$940.47B
14Switzerland$1.31T$765.89B$546.86B
15Luxembourg$1.18T$523.4B$659.4B
16Mexico$1.11T$812.17B$297.88B
17Brazil$930.15B$743.58B$186.58B
18Russia$818.49B$772.49B$46B
19Austria$781.7B$634.52B$147.18B
20Sweden$732.66B$384.81B$347.85B
21Singapore$731.24B$641.72B$89.52B
22Indonesia$610B$464.28B$145.73B
23Ireland$604.75B$164.28B$440.47B
24Hong Kong$571.81B$305.5B$266.31B
25Malaysia$551.35B$509.65B$41.7B
26Thailand$549.15B$532.33B$16.81B
27Poland$547.4B$439.54B$107.86B
28Denmark$521.85B$373.56B$148.29B
29Saudi Arabia$520.59B$231.5B$289.09B
30Finland$487.75B$232.77B$254.98B
31Israel$456.84B$380.9B$75.94B
32Norway$454.01B$242.71B$211.3B
33Philippines$448.53B$235.94B$212.6B
34Czechia$434.3B$383.19B$51.11B
35Chile$432.26B$309.6B$122.65B
36Taiwan$406.1B$386.59B$19.5B
37Argentina$391.5B$193.56B$197.94B
38Portugal$325.07B$312.37B$12.71B
39South Africa$317.86B$247.59B$70.27B
40Turkey$317.65B$161.83B$155.82B
41United Arab Emirates$311.94B$80.27B$231.67B
42Colombia$257.85B$182.1B$75.76B
43New Zealand$250.42B$199.34B$51.08B
44Iran$241.58B$241.58B—
45Romania$216.11B$106.96B$109.15B
46Hungary$195.03B$137.33B$57.7B
47Greece$186.98B$140.26B$46.73B
48Pakistan$169.49B$161.04B$8.45B
49Egypt$163.91B$125.9B$38.01B
50Qatar$132.63B$40.65B$91.98B
51Peru$125.12B$51.52B$73.6B
52Kazakhstan$119.5B$94.77B$24.73B
53Vietnam$117.89B$115.94B$1.94B
54Slovakia$117.28B$112.08B$5.2B
55Morocco$117.01B$99.35B$17.65B
56Venezuela$98.09B$2.82B$95.26B
57Costa Rica$82.43B$73.23B$9.2B
58Ivory Coast$80.14B$26.15B$53.99B
59Ukraine$77.89B$45.69B$32.2B
60Algeria$74.89B$74.89B—
61Dominican Republic$72.03B$36.54B$35.49B
62Sri Lanka$71.56B$62.68B$8.88B
63Nigeria$63.58B$37.92B$25.67B
64Jersey$63.47B$23.09B$40.37B
65Panama$63.25B$17.54B$45.71B
66Kenya$57.33B$48.31B$9.02B
67Slovenia$57.06B$47.04B$10.03B
68Uruguay$56.47B$31.46B$25.01B
69Bangladesh$55.12B$55.12B—
70Bahrain$53.38B$17.27B$36.1B
71Croatia$49.69B$29.65B$20.04B
72Iceland$49.37B$29.34B$20.03B
73Jordan$48.23B$41.48B$6.75B
74Ghana$44.63B$35.23B$9.4B
75Oman$43.74B$14.57B$29.17B
76Lebanon$43.2B$11.88B$31.31B
77Bulgaria$38.49B$8.22B$30.27B
78Lithuania$37.54B$9.91B$27.63B
79Ecuador$36.49B$1.17B$35.32B
80Serbia$29.78B$17.04B$12.75B
81Angola$27.69B$16.08B$11.61B
82Kuwait$27.05B$7.01B$20.04B
83Cyprus$23.79B$5.94B$17.85B
84Guatemala$23.77B$10.31B$13.46B
85Latvia$23.58B$2.06B$21.52B
86Jamaica$23.35B$14.98B$8.37B
87Cayman Islands$21.04B$312M$20.73B
88Belarus$20.61B$18.81B$1.8B
89Malta$20.31B$18.71B$1.6B
90Honduras$17.43B$5.4B$12.03B
91Paraguay$17.41B$4.85B$12.56B
92Uzbekistan$16.49B$4.47B$12.03B
93Tunisia$16.2B$14.58B$1.62B
94Senegal$15.84B$10.91B$4.93B
95Bermuda$15.69B$3.29B$12.4B
96Mauritius$15.49B$12.46B$3.03B
97Uganda$15.01B$15.01B—
98Albania$13.08B$9.4B$3.68B
99Estonia$12.84B$2.4B$10.45B
100Zambia$12.59B$7.57B$5.02B
101Trinidad and Tobago$12.15B$5.25B$6.91B
102Azerbaijan$11.28B$6.68B$4.6B
103Bolivia$10.77B$8.3B$2.47B
104Armenia$10.1B$8.1B$2B
105Tanzania$10.05B$10.05B—
106Namibia$9.6B$8.85B$750M
107Macau$9.48B$873M$8.61B
108El Salvador$9.28B$692M$8.59B
109Bahamas$9.01B$5.62B$3.39B
110Togo$9.01B$5.07B$3.94B
111Liechtenstein$8.62B$6.71B$1.91B
112North Macedonia$8.15B$5.92B$2.23B
113Burkina Faso$7.49B$7.49B—
114Georgia$7.03B$4.62B$2.42B
115Mali$6.78B$6.78B—
116Gabon$6.59B$4.12B$2.47B
117Mozambique$6.43B$5.53B$900M
118Malawi$6.36B$6.36B—
119Benin$6.09B$3.45B$2.64B
120Mongolia$5.76B$221M$5.54B
121Republic of the Congo$5.44B$3.82B$1.63B
122Cameroon$5.07B$3.56B$1.51B
123Papua New Guinea$4.91B$4.41B$500M
124Barbados$4.89B$2.9B$1.99B
125Niger$4.34B$4.34B—
126Bosnia and Herzegovina$3.99B$3.22B$763M
127Botswana$3.89B$3.89B—
128Kyrgyzstan$3.78B$3.08B$700M
129Moldova$3.73B$2.81B$918M
130Montenegro$3.29B$74M$3.22B
131Ethiopia$2.97B$1.97B$1B
132Iraq$2.79B$94M$2.7B
133Fiji$2.67B$2.67B—
134Chad$2.43B$2.43B—
135Rwanda$2.12B$1.5B$620M
136Myanmar$2.12B$2.12B—
137Guernsey$1.99B$848M$1.15B
138Maldives$1.86B$1.36B$500M
139Laos$1.68B$1.68B—
140Andorra$1.54B—$1.54B
141Sudan$1.47B—$1.47B
142San Marino$1.35B$944M$411M
143Yemen$1.31B$1.31B—
144Nepal$1.24B$1.24B—
145Isle of Man$1.19B—$1.19B
146Guyana$1.14B$1.11B$25M
147Cape Verde$1.04B$1.04B—
148Suriname$975M—$975M
149Equatorial Guinea$963M$963M—
150Mauritania$847M$76M$771M
151Guinea-Bissau$819M$819M—
152Burundi$813M$813M—
153Cambodia$793M$793M—
154Gambia$665M$665M—
155Monaco$621M$586M$35M
156Seychelles$612M$429M$184M
157Central African Republic$595M$595M—
158Eswatini$538M$538M—
159Tajikistan$536M$36M$500M
160Grenada$343M$59M$283M
161Nicaragua$324M$324M—
162Saint Lucia$281M$281M—
163Lesotho$270M$270M—
164Antigua and Barbuda$248M$248M—
165Bhutan$235M$235M—
166Aruba$192M—$192M
167Belize$155M$152M$3M
168Saint Kitts and Nevis$142M$142M—
169Sierra Leone$132M$132M—
170Madagascar$87M$87M—
171Dominica$63M$63M—
172Saint Vincent and the Grenadines$45M$45M—
173Zimbabwe$4M——

What correlates with Domestic & International Market Volume (2025)?

Pearson r against 1,433 other country metrics sharing at least 104 countries. Correlation is not causation.

Higher together

Places that have a higher Domestic & International Market Volume tend to score higher on these

  1. Consumer SpendingConsumer Spending by Country
    r = +0.99 · very strong · n = 132
    Plot
  2. IPv4 AllocatedIP Address by Country
    r = +0.99 · very strong · n = 173
    Plot
  3. IPv4 %IP Address by Country
    r = +0.99 · very strong · n = 132
    Plot
  4. National Central Gov DebtCountries with the Highest National Debt
    r = +0.99 · very strong · n = 138
    Plot
  5. Annual Reddit UsersReddit Users by Country
    r = +0.98 · very strong · n = 148
    Plot
  6. Non-Resident Patent GrantsPatents by Country
    r = +0.98 · very strong · n = 107
    Plot

Opposite directions

Places that have a higher Domestic & International Market Volume tend to score lower on these

  1. Net International Investment PositionNet International Investment Position by Country
    r = −0.78 · very strong · n = 114
    Plot
  2. US Trade BalanceUS Trade Deficit by Country
    r = −0.50 · moderate · n = 169
    Plot
  3. ZeroPark 2020Tier 1 Countries
    r = −0.40 · moderate · n = 171
    Plot
  4. % of Children Ever BreastfedBreastfeeding Rates by Country
    r = −0.40 · moderate · n = 106
    Plot
  5. First Referendum Initiative HeldReferendums by Country
    r = −0.36 · moderate · n = 126
    Plot
  6. Year First Franchise OpenedBurger King by Country
    r = −0.34 · moderate · n = 115
    Plot

Quick answers

Which country has the highest Domestic & International Market Volume?
United States has the highest Domestic & International Market Volume in 2025, at $49.87T, followed by China ($16.76T) and Japan ($10.44T).
Which country has the lowest Domestic & International Market Volume?
Zimbabwe has the lowest Domestic & International Market Volume in 2025, at $4M.
What is the median Domestic & International Market Volume across countries?
The median is $21.04B across the 173 countries with data in 2025.
Where does this bond market size by country data come from?
Rankodex compiles it from World Population Review and the primary sources it cites: Market volume of domestic and international bonds - Cbonds.

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