New Zealand Stock Market Cap to GDP stands at 39.07% as of December 2025, up from 35.51% a year earlier. The reading sits in the 56th percentile of its history back to 1985.
| Latest (December 2025) | 39.07% |
| One year ago | 35.51% |
| 10-year range | 35.51% – 61.97% |
| Percentile vs. full history | 56th |
| History | 1985–2025 (39 observations) |
New Zealand's total stock-market capitalization as a percentage of GDP - the per-country version of the so-called Buffett indicator. Because listed-market depth differs hugely across countries, the level only means something against New Zealand's own history: well above its historical range suggests a rich market, well below suggests a cheap one. Annual World Bank data, so it moves slowly - which is exactly why it anchors the valuation pillar of the tailwinds score rather than trying to time anything.
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<a href="https://www.tacticalassetallocation.com/charts/new-zealand-market-cap-gdp/">New Zealand Stock Market Cap to GDP — Cambria Chart Lab</a>
Data: download CSV (source: World Bank World Development Indicators).