Index Methodology
To create the Insider Monkey Global Vehicle Motorization Index, we computed the total number of cars, the number of cars per 1,000 inhabitants, and the number of cars per capita for 195 countries and territories, as of 2024.
We began our research by consulting the 2015 dataset for the number of vehicles in use from The International Organization of Motor Vehicle Manufacturers (OICA). This dataset gave us the number of vehicles for over 140 countries. We used this along with population statistics for 2015 to compute the vehicles per capita for each country.
We did a regression analysis and found the correlation between vehicles per capita and GDP per capita (2015), sourced from the International Monetary Fund, and used our function to estimate the vehicles per capita (2015) for missing countries in our dataset. We then computed the total number of cars for all 195 countries and territories in 2015, according to our calculations.
Next, we consulted the 2020 release by the OICA for the total number of vehicles in use, which gave us data for 62 countries. We used this to calculate the compound annual growth rate (CAGR) of vehicles in use for 62 countries from 2015 to 2020. Next, we calculated the global average CAGR for 2015 to 2020, which came to 4.36%.
Assuming constant growth rates and keeping 2015 as our point of origin, we calculated the total vehicles in use in 2024 by applying our CAGR over 9 years. We then used our 2024 estimates to compute the vehicle motorization rate for each country and also the cars per capita, as of 2024.
Our sources:
- Population Statistics from the 2022 Revision of World Population Prospects
- Number of Vehicles in Use (2015) from the OICA
- Number of Vehicles in Use (2020) from the OICA
The table below presents 195 countries in descending order of their Insider Monkey Global Vehicle Motorization Index values, i.e. Cars per 1,000 Inhabitants, in 2024.
Rank | Country | Total Cars (2015) | Population (2015) | Cars per Capita (2015) | Cars per 1000 Inhabitants (2015) | Total Cars (2024) | Population (2024) | Cars per Capita (2024) | Cars per 1000 Inhabitants (2024) |
---|---|---|---|---|---|---|---|---|---|
1 | Puerto Rico | 3320000 | 3473232 | 0.9559 | 956 | 4874664 | 3269000 | 1.4912 | 1491 |
2 | United States of America | 264194000 | 320738994 | 0.8237 | 824 | 387908757 | 341814000 | 1.1349 | 1135 |
3 | Italy | 42242000 | 60730582 | 0.6956 | 696 | 62022763 | 58698000 | 1.0566 | 1057 |
4 | New Zealand | 3708000 | 4609400 | 0.8044 | 804 | 5444354 | 5270000 | 1.0331 | 1033 |
5 | Iceland | 262000 | 330815 | 0.7920 | 792 | 384687 | 378000 | 1.0177 | 1018 |
6 | Brunei Darussalam | 301000 | 421437 | 0.7142 | 714 | 441950 | 456000 | 0.9692 | 969 |
7 | Macao | 465839 | 615239 | 0.7572 | 757 | 683979 | 713000 | 0.9593 | 959 |
8 | Australia | 17201000 | 23815995 | 0.7222 | 722 | 25255753 | 26699000 | 0.9459 | 946 |
9 | Luxembourg | 423000 | 569604 | 0.7426 | 743 | 621079 | 662000 | 0.9382 | 938 |
10 | Japan | 77404000 | 127141000 | 0.6088 | 609 | 113650157 | 122631000 | 0.9268 | 927 |
11 | Malta | 325000 | 445053 | 0.7303 | 730 | 477189 | 537000 | 0.8886 | 889 |
12 | Poland | 24250000 | 37986412 | 0.6384 | 638 | 35605606 | 40222000 | 0.8852 | 885 |
13 | Greece | 6205000 | 10820883 | 0.5734 | 573 | 9110630 | 10303000 | 0.8843 | 884 |
14 | France | 38652000 | 66548272 | 0.5808 | 581 | 56751665 | 64882000 | 0.8747 | 875 |
15 | Estonia | 783000 | 1315407 | 0.5953 | 595 | 1149657 | 1319000 | 0.8716 | 872 |
16 | Canada | 23215000 | 35702908 | 0.6502 | 650 | 34085944 | 39107000 | 0.8716 | 872 |
17 | Germany | 48427000 | 81686611 | 0.5928 | 593 | 71104027 | 83252000 | 0.8541 | 854 |
18 | Austria | 5202000 | 8642699 | 0.6019 | 602 | 7637953 | 8977000 | 0.8508 | 851 |
19 | Spain | 27463000 | 46444832 | 0.5913 | 591 | 40323165 | 47473000 | 0.8494 | 849 |
20 | Norway | 3183000 | 5188607 | 0.6135 | 613 | 4673511 | 5514000 | 0.8476 | 848 |
21 | Portugal | 5872000 | 10358076 | 0.5669 | 567 | 8621696 | 10223000 | 0.8434 | 843 |
22 | United Kingdom | 38220000 | 65116219 | 0.5870 | 587 | 56117371 | 67961000 | 0.8257 | 826 |
23 | Slovenia | 1188000 | 2063531 | 0.5757 | 576 | 1744308 | 2119000 | 0.8232 | 823 |
24 | Switzerland | 4924000 | 8282396 | 0.5945 | 595 | 7229773 | 8851000 | 0.8168 | 817 |
25 | Belgium | 6426000 | 11274196 | 0.5700 | 570 | 9435118 | 11716000 | 0.8053 | 805 |
26 | Bulgaria | 3630000 | 7177991 | 0.5057 | 506 | 5329829 | 6619000 | 0.8052 | 805 |
27 | Netherlands | 9395000 | 16939923 | 0.5546 | 555 | 13794419 | 17671000 | 0.7806 | 781 |
28 | San Marino | 17328 | 33570 | 0.5162 | 516 | 25443 | 34000 | 0.7483 | 748 |
29 | Lithuania | 1354000 | 2904910 | 0.4661 | 466 | 1988041 | 2693000 | 0.7382 | 738 |
30 | Hong Kong | 3714498 | 7291300 | 0.5094 | 509 | 5453895 | 7497000 | 0.7275 | 727 |
31 | Sweden | 5279000 | 9799186 | 0.5387 | 539 | 7751010 | 10674000 | 0.7262 | 726 |
32 | Finland | 2708000 | 5479531 | 0.4942 | 494 | 3976082 | 5550000 | 0.7164 | 716 |
33 | Denmark | 2838000 | 5683483 | 0.4993 | 499 | 4166957 | 5940000 | 0.7015 | 702 |
34 | Cyprus | 594000 | 1187280 | 0.5003 | 500 | 872154 | 1268000 | 0.6878 | 688 |
35 | Ireland | 2316000 | 4701957 | 0.4926 | 493 | 3400519 | 5089000 | 0.6682 | 668 |
36 | Kuwait | 1876000 | 3908743 | 0.4799 | 480 | 2754479 | 4349000 | 0.6334 | 633 |
37 | Andorra | 34308 | 71746 | 0.4782 | 478 | 50373 | 80000 | 0.6297 | 630 |
38 | Latvia | 770000 | 1977527 | 0.3894 | 389 | 1130570 | 1810000 | 0.6246 | 625 |
39 | Croatia | 1663000 | 4203604 | 0.3956 | 396 | 2441737 | 3987000 | 0.6124 | 612 |
40 | Republic of Korea | 20990000 | 51014947 | 0.4114 | 411 | 30819038 | 51742000 | 0.5956 | 596 |
41 | Libya | 2740000 | 6192235 | 0.4425 | 442 | 4023066 | 6964000 | 0.5777 | 578 |
42 | Barbados | 110000 | 278083 | 0.3956 | 396 | 161510 | 282000 | 0.5727 | 573 |
43 | Bahrain | 578000 | 1362142 | 0.4243 | 424 | 848661 | 1499000 | 0.5662 | 566 |
44 | Malaysia | 13309000 | 31068833 | 0.4284 | 428 | 19541237 | 34672000 | 0.5636 | 564 |
45 | Qatar | 1020000 | 2414573 | 0.4224 | 422 | 1497638 | 2737000 | 0.5472 | 547 |
46 | Hungary | 3711000 | 9843028 | 0.3770 | 377 | 5448759 | 9995000 | 0.5451 | 545 |
47 | Belarus | 3502000 | 9461076 | 0.3701 | 370 | 5141890 | 9455000 | 0.5438 | 544 |
48 | Aruba | 39059 | 104257 | 0.3746 | 375 | 57350 | 106000 | 0.5410 | 541 |
49 | Russian Federation | 51355000 | 144096870 | 0.3564 | 356 | 75403129 | 143957000 | 0.5238 | 524 |
50 | Taiwan | 7789334 | 23462910 | 0.3320 | 332 | 11436864 | 23950000 | 0.4775 | 478 |
51 | Israel | 2959000 | 8380100 | 0.3531 | 353 | 4344618 | 9312000 | 0.4666 | 467 |
52 | Bahamas | 130000 | 392697 | 0.3310 | 331 | 190875 | 415000 | 0.4599 | 460 |
53 | Suriname | 193000 | 575475 | 0.3354 | 335 | 283377 | 629000 | 0.4505 | 451 |
54 | Romania | 6009000 | 19815616 | 0.3032 | 303 | 8822849 | 19619000 | 0.4497 | 450 |
55 | Argentina | 13736000 | 43131966 | 0.3185 | 318 | 20168190 | 46058000 | 0.4379 | 438 |
56 | Mexico | 37354000 | 120149897 | 0.3109 | 311 | 54845847 | 129388000 | 0.4239 | 424 |
57 | Czechia | 3031636 | 10546059 | 0.2875 | 287 | 4451267 | 10504000 | 0.4238 | 424 |
58 | Serbia | 2042000 | 7095383 | 0.2878 | 288 | 2998212 | 7097000 | 0.4225 | 422 |
59 | Trinidad and Tobago | 439574 | 1460177 | 0.3010 | 301 | 645415 | 1538000 | 0.4196 | 420 |
60 | Bosnia and Herzegovina | 911000 | 3524324 | 0.2585 | 258 | 1337596 | 3194000 | 0.4188 | 419 |
61 | Saint Kitts and Nevis | 13645 | 47790 | 0.2855 | 286 | 20035 | 48000 | 0.4174 | 417 |
62 | Syrian Arab Republic | 6900000 | 19205178 | 0.3593 | 359 | 10131080 | 24348000 | 0.4161 | 416 |
63 | Georgia | 1044000 | 3725276 | 0.2802 | 280 | 1532876 | 3717000 | 0.4124 | 412 |
64 | Uruguay | 960000 | 3402818 | 0.2821 | 282 | 1409541 | 3423000 | 0.4118 | 412 |
65 | Palau | 4824 | 17794 | 0.2711 | 271 | 7083 | 18000 | 0.3935 | 393 |
66 | Slovakia | 1488202 | 5423801 | 0.2744 | 274 | 2185086 | 5703000 | 0.3831 | 383 |
67 | Antigua and Barbuda | 23315 | 89941 | 0.2592 | 259 | 34233 | 95000 | 0.3604 | 360 |
68 | Ukraine | 9100000 | 45154036 | 0.2015 | 202 | 13361279 | 37938000 | 0.3522 | 352 |
69 | Seychelles | 24765 | 93419 | 0.2651 | 265 | 36362 | 108000 | 0.3367 | 337 |
70 | Chile | 4445000 | 17870124 | 0.2487 | 249 | 6526471 | 19659000 | 0.3320 | 332 |
71 | United Arab Emirates | 2140000 | 8916899 | 0.2400 | 240 | 3142103 | 9592000 | 0.3276 | 328 |
72 | Kazakhstan | 4397000 | 17542806 | 0.2506 | 251 | 6455994 | 19828000 | 0.3256 | 326 |
73 | Thailand | 15491000 | 70294397 | 0.2204 | 220 | 22745008 | 71886000 | 0.3164 | 316 |
74 | Saint Lucia | 38461 | 175623 | 0.2190 | 219 | 56472 | 181000 | 0.3120 | 312 |
75 | Oman | 980000 | 4191776 | 0.2338 | 234 | 1438907 | 4714000 | 0.3052 | 305 |
76 | Costa Rica | 1076000 | 4895242 | 0.2198 | 220 | 1579861 | 5247000 | 0.3011 | 301 |
77 | Brazil | 42743000 | 205188205 | 0.2083 | 208 | 62758367 | 217637000 | 0.2884 | 288 |
78 | Maldives | 101275 | 435582 | 0.2325 | 233 | 148699 | 518000 | 0.2871 | 287 |
79 | Saint Vincent and the Grenadines | 20291 | 106482 | 0.1906 | 191 | 29793 | 104000 | 0.2865 | 286 |
80 | Grenada | 24768 | 118980 | 0.2082 | 208 | 36365 | 127000 | 0.2863 | 286 |
81 | Kyrgyzstan | 1330000 | 5956900 | 0.2233 | 223 | 1952802 | 6840000 | 0.2855 | 285 |
82 | Marshall Islands | 7854 | 49410 | 0.1590 | 159 | 11532 | 42000 | 0.2746 | 275 |
83 | Dominica | 13621 | 70007 | 0.1946 | 195 | 19999 | 73000 | 0.2740 | 274 |
84 | Montenegro | 114963 | 622159 | 0.1848 | 185 | 168797 | 626000 | 0.2696 | 270 |
85 | Mauritius | 237000 | 1262879 | 0.1877 | 188 | 347981 | 1302000 | 0.2673 | 267 |
86 | Türkiye | 15361000 | 78218479 | 0.1964 | 196 | 22554132 | 86260000 | 0.2615 | 261 |
87 | Saudi Arabia | 6600000 | 32749848 | 0.2015 | 202 | 9690598 | 37474000 | 0.2586 | 259 |
88 | Equatorial Guinea | 306302 | 1346973 | 0.2274 | 227 | 449735 | 1755000 | 0.2563 | 256 |
89 | Turkmenistan | 1138699 | 5766431 | 0.1975 | 197 | 1671920 | 6598000 | 0.2534 | 253 |
90 | Albania | 481000 | 2880703 | 0.1670 | 167 | 706239 | 2826000 | 0.2499 | 250 |
91 | Fiji | 160068 | 917200 | 0.1745 | 175 | 235024 | 943000 | 0.2492 | 249 |
92 | Kosovo (under UNSC res. 1244) | 282381 | 1788196 | 0.1579 | 158 | 414612 | 1667000 | 0.2487 | 249 |
93 | North Macedonia | 351437 | 2070226 | 0.1698 | 170 | 516005 | 2083000 | 0.2477 | 248 |
94 | Nauru | 2125 | 11185 | 0.1900 | 190 | 3120 | 13000 | 0.2400 | 240 |
95 | Armenia | 453915 | 2878595 | 0.1577 | 158 | 666471 | 2778000 | 0.2399 | 240 |
96 | Guyana | 133098 | 755031 | 0.1763 | 176 | 195424 | 820000 | 0.2383 | 238 |
97 | Tonga | 17495 | 106122 | 0.1649 | 165 | 25687 | 109000 | 0.2357 | 236 |
98 | Gabon | 392041 | 2028517 | 0.1933 | 193 | 575623 | 2485000 | 0.2316 | 232 |
99 | Iran (Islamic Republic of) | 14130000 | 81790841 | 0.1728 | 173 | 20746689 | 89810000 | 0.2310 | 231 |
100 | South Africa | 9600000 | 55876504 | 0.1718 | 172 | 14095415 | 61020000 | 0.2310 | 231 |
101 | Tuvalu | 1702 | 10877 | 0.1565 | 156 | 2499 | 11000 | 0.2272 | 227 |
102 | Venezuela (Bolivarian Republic of) | 4510000 | 30529716 | 0.1477 | 148 | 6621909 | 29395000 | 0.2253 | 225 |
103 | Panama | 677000 | 3957099 | 0.1711 | 171 | 994020 | 4528000 | 0.2195 | 220 |
104 | Eswatini | 181247 | 1133936 | 0.1598 | 160 | 266120 | 1222000 | 0.2178 | 218 |
105 | Namibia | 390819 | 2282704 | 0.1712 | 171 | 573829 | 2646000 | 0.2169 | 217 |
106 | Samoa | 33448 | 203571 | 0.1643 | 164 | 49110 | 229000 | 0.2145 | 214 |
107 | Micronesia (Fed. States of) | 16786 | 109462 | 0.1533 | 153 | 24646 | 116000 | 0.2125 | 212 |
108 | Botswana | 392000 | 2305171 | 0.1701 | 170 | 575563 | 2720000 | 0.2116 | 212 |
109 | Cabo Verde | 85840 | 552166 | 0.1555 | 155 | 126037 | 604000 | 0.2087 | 209 |
110 | Bhutan | 112074 | 743274 | 0.1508 | 151 | 164555 | 792000 | 0.2078 | 208 |
111 | Dominican Republic | 1611000 | 10405832 | 0.1548 | 155 | 2365387 | 11434000 | 0.2069 | 207 |
112 | South Sudan | 1537921 | 11194299 | 0.1374 | 137 | 2258087 | 11277000 | 0.2002 | 200 |
113 | Mongolia | 474787 | 2964749 | 0.1601 | 160 | 697117 | 3494000 | 0.1995 | 200 |
114 | Singapore | 813000 | 5535002 | 0.1469 | 147 | 1193705 | 6053000 | 0.1972 | 197 |
115 | Uzbekistan | 4717540 | 31298900 | 0.1507 | 151 | 6926634 | 35674000 | 0.1942 | 194 |
116 | Lebanon | 683000 | 6398940 | 0.1067 | 107 | 1002830 | 5219000 | 0.1921 | 192 |
117 | Djibouti | 150676 | 1006259 | 0.1497 | 150 | 221234 | 1152000 | 0.1920 | 192 |
118 | Myanmar | 7042226 | 51483949 | 0.1368 | 137 | 10339906 | 54965000 | 0.1881 | 188 |
119 | Republic of Moldova | 426284 | 2835978 | 0.1503 | 150 | 625901 | 3330000 | 0.1880 | 188 |
120 | Lao People's Democratic Republic | 983834 | 6787419 | 0.1449 | 145 | 1444536 | 7737000 | 0.1867 | 187 |
121 | Azerbaijan | 1302000 | 9649341 | 0.1349 | 135 | 1911691 | 10463000 | 0.1827 | 183 |
122 | Papua New Guinea | 1307177 | 8682174 | 0.1506 | 151 | 1919292 | 10516000 | 0.1825 | 183 |
123 | Ecuador | 2267000 | 16195902 | 0.1400 | 140 | 3328574 | 18377000 | 0.1811 | 181 |
124 | Congo | 768494 | 5064386 | 0.1517 | 152 | 1128359 | 6245000 | 0.1807 | 181 |
125 | Cambodia | 2106045 | 15417523 | 0.1366 | 137 | 3092248 | 17122000 | 0.1806 | 181 |
126 | Lesotho | 287492 | 2118521 | 0.1357 | 136 | 422117 | 2356000 | 0.1792 | 179 |
127 | Vanuatu | 41692 | 276438 | 0.1508 | 151 | 61216 | 342000 | 0.1790 | 179 |
128 | Timor-Leste | 166128 | 1205813 | 0.1378 | 138 | 243921 | 1380000 | 0.1768 | 177 |
129 | Algeria | 5570000 | 39543154 | 0.1409 | 141 | 8178277 | 46279000 | 0.1767 | 177 |
130 | Belize | 50000 | 359871 | 0.1389 | 139 | 73414 | 417000 | 0.1761 | 176 |
131 | Kiribati | 16296 | 116707 | 0.1396 | 140 | 23927 | 136000 | 0.1759 | 176 |
132 | Nepal | 3691202 | 27610325 | 0.1337 | 134 | 5419690 | 31240000 | 0.1735 | 173 |
133 | Solomon Islands | 89051 | 612660 | 0.1454 | 145 | 130751 | 757000 | 0.1727 | 173 |
134 | Sao Tome and Principe | 27715 | 201124 | 0.1378 | 138 | 40693 | 236000 | 0.1724 | 172 |
135 | Tunisia | 1450000 | 11557779 | 0.1255 | 125 | 2128995 | 12565000 | 0.1694 | 169 |
136 | Comoros | 99931 | 730216 | 0.1369 | 137 | 146727 | 868000 | 0.1690 | 169 |
137 | Eritrea | 438070 | 3340006 | 0.1312 | 131 | 643206 | 3818000 | 0.1685 | 168 |
138 | China | 162845000 | 1379860000 | 0.1180 | 118 | 239100818 | 1425179000 | 0.1678 | 168 |
139 | Côte d'Ivoire | 3379257 | 23596741 | 0.1432 | 143 | 4961670 | 29603000 | 0.1676 | 168 |
140 | Tajikistan | 1142416 | 8524063 | 0.1340 | 134 | 1677379 | 10332000 | 0.1623 | 162 |
141 | Guinea-Bissau | 236330 | 1788919 | 0.1321 | 132 | 346997 | 2197000 | 0.1579 | 158 |
142 | Rwanda | 1543503 | 11642959 | 0.1326 | 133 | 2266283 | 14415000 | 0.1572 | 157 |
143 | Sierra Leone | 958712 | 7314773 | 0.1311 | 131 | 1407651 | 8978000 | 0.1568 | 157 |
144 | Guinea | 1536321 | 11625998 | 0.1321 | 132 | 2255737 | 14529000 | 0.1553 | 155 |
145 | Central African Republic | 622234 | 4819333 | 0.1291 | 129 | 913609 | 5916000 | 0.1544 | 154 |
146 | Gambia | 296464 | 2253133 | 0.1316 | 132 | 435290 | 2842000 | 0.1532 | 153 |
147 | Colombia | 5332000 | 47119728 | 0.1132 | 113 | 7828828 | 52341000 | 0.1496 | 150 |
148 | Guatemala | 1863000 | 15567419 | 0.1197 | 120 | 2735391 | 18358000 | 0.1490 | 149 |
149 | Chad | 1876786 | 14140274 | 0.1327 | 133 | 2755633 | 18847000 | 0.1462 | 146 |
150 | Jordan | 1130000 | 9494246 | 0.1190 | 119 | 1659148 | 11385000 | 0.1457 | 146 |
151 | Somalia | 1796314 | 13763906 | 0.1305 | 131 | 2637478 | 18707000 | 0.1410 | 141 |
152 | Paraguay | 653000 | 6177950 | 0.1057 | 106 | 958782 | 6947000 | 0.1380 | 138 |
153 | Morocco | 3570000 | 34680458 | 0.1029 | 103 | 5241732 | 38211000 | 0.1372 | 137 |
154 | Niger | 2618254 | 20128124 | 0.1301 | 130 | 3844311 | 28239000 | 0.1361 | 136 |
155 | Iraq | 3900000 | 37757813 | 0.1033 | 103 | 5726262 | 46524000 | 0.1231 | 123 |
156 | Indonesia | 22513000 | 259091970 | 0.0869 | 87 | 33055216 | 279798000 | 0.1181 | 118 |
157 | Peru | 2444000 | 30711863 | 0.0796 | 80 | 3588458 | 34683000 | 0.1035 | 103 |
158 | Jamaica | 190000 | 2794445 | 0.0680 | 68 | 278972 | 2825000 | 0.0988 | 99 |
159 | Nicaragua | 480000 | 6298598 | 0.0762 | 76 | 704771 | 7143000 | 0.0987 | 99 |
160 | Sri Lanka | 1470000 | 21336697 | 0.0689 | 69 | 2158360 | 21949000 | 0.0983 | 98 |
161 | Bolivia (Plurinational State of) | 770000 | 11090085 | 0.0694 | 69 | 1130570 | 12567000 | 0.0900 | 90 |
162 | Zimbabwe | 940000 | 14154937 | 0.0664 | 66 | 1380176 | 17020000 | 0.0811 | 81 |
163 | Egypt | 5734000 | 97723799 | 0.0587 | 59 | 8419074 | 114484000 | 0.0735 | 74 |
164 | El Salvador | 260000 | 6231066 | 0.0417 | 42 | 381751 | 6396000 | 0.0597 | 60 |
165 | Afghanistan | 1573000 | 33753499 | 0.0466 | 47 | 2309592 | 43373000 | 0.0532 | 53 |
166 | Senegal | 660000 | 14356181 | 0.0460 | 46 | 969060 | 18222000 | 0.0532 | 53 |
167 | Philippines | 3823000 | 103031365 | 0.0371 | 37 | 5613205 | 119106000 | 0.0471 | 47 |
168 | Yemen | 1000000 | 28516545 | 0.0351 | 35 | 1468272 | 35220000 | 0.0417 | 42 |
169 | Ghana | 890000 | 28870939 | 0.0308 | 31 | 1306762 | 34778000 | 0.0376 | 38 |
170 | Kenya | 1381000 | 46851488 | 0.0295 | 29 | 2027684 | 56203000 | 0.0361 | 36 |
171 | Angola | 880000 | 28127721 | 0.0313 | 31 | 1292080 | 37805000 | 0.0342 | 34 |
172 | Viet Nam | 2170000 | 92191398 | 0.0235 | 24 | 3186151 | 99498000 | 0.0320 | 32 |
173 | Togo | 198000 | 7473229 | 0.0265 | 26 | 290718 | 9261000 | 0.0314 | 31 |
174 | Madagascar | 660000 | 24850912 | 0.0266 | 27 | 969060 | 31057000 | 0.0312 | 31 |
175 | India | 28860000 | 1322866505 | 0.0218 | 22 | 42374341 | 1441720000 | 0.0294 | 29 |
176 | Democratic Republic of the Congo | 1900000 | 78656904 | 0.0242 | 24 | 2789718 | 105625000 | 0.0264 | 26 |
177 | Benin | 252000 | 10932783 | 0.0230 | 23 | 370005 | 14080000 | 0.0263 | 26 |
178 | Zambia | 370000 | 16248230 | 0.0228 | 23 | 543261 | 21135000 | 0.0257 | 26 |
179 | Nigeria | 3750000 | 183995785 | 0.0204 | 20 | 5506021 | 229152000 | 0.0240 | 24 |
180 | Honduras | 160000 | 9294505 | 0.0172 | 17 | 234924 | 10759000 | 0.0218 | 22 |
181 | Pakistan | 3220000 | 210969298 | 0.0153 | 15 | 4727837 | 245210000 | 0.0193 | 19 |
182 | Burkina Faso | 297000 | 18718019 | 0.0159 | 16 | 436077 | 23840000 | 0.0183 | 18 |
183 | Cameroon | 347000 | 23012646 | 0.0151 | 15 | 509491 | 29394000 | 0.0173 | 17 |
184 | Mozambique | 400000 | 26843246 | 0.0149 | 15 | 587309 | 34858000 | 0.0168 | 17 |
185 | Liberia | 63000 | 4612329 | 0.0137 | 14 | 92501 | 5537000 | 0.0167 | 17 |
186 | Uganda | 490000 | 37477356 | 0.0131 | 13 | 719453 | 49924000 | 0.0144 | 14 |
187 | Mali | 203000 | 18112907 | 0.0112 | 11 | 298059 | 24016000 | 0.0124 | 12 |
188 | Mauritania | 41000 | 3946220 | 0.0104 | 10 | 60199 | 4994000 | 0.0121 | 12 |
189 | Haiti | 80000 | 10563757 | 0.0076 | 8 | 117462 | 11867000 | 0.0099 | 10 |
190 | Malawi | 139000 | 16938942 | 0.0082 | 8 | 204090 | 21476000 | 0.0095 | 10 |
191 | United Republic of Tanzania | 380000 | 52542823 | 0.0072 | 7 | 557944 | 69419000 | 0.0080 | 8 |
192 | Burundi | 63000 | 10727148 | 0.0059 | 6 | 92501 | 13592000 | 0.0068 | 7 |
193 | Bangladesh | 620000 | 157830000 | 0.0039 | 4 | 910329 | 174701000 | 0.0052 | 5 |
194 | Sudan | 111000 | 38171178 | 0.0029 | 3 | 162978 | 49358000 | 0.0033 | 3 |
195 | Ethiopia | 155000 | 102471895 | 0.0015 | 2 | 227582 | 129720000 | 0.0018 | 2 |
Index Creator: This index is created by Inan Dogan, PhD. Inan Dogan has more than 20 years of experience researching and investing in the financial markets. Dr. Dogan is the co-founder and research director of Insider Monkey. He has a Ph.D. in financial economics from University at Buffalo and he has been doing quantitative stock research focusing on insider trading and hedge fund portfolio disclosures.