Pakistan holds 5% weight in Tundra Fonder's frontier market index

According to Mettis Global, Pakistan accounted for a 5% weighting in the MSCI Frontier Markets ex-GCC Net Total Return Index as of August 2026. That placed the country among 18 constituent markets in an overview released by Swedish frontier-market manager Tundra Fonder. The firm's data, drawn from the World Bank, the United Nations and Bloomberg, classes Pakistan as a core market alongside Kenya, Bangladesh and Sri Lanka.

The report portrays Pakistan's equity market as large and liquid, though comparatively undervalued. It counts 530 listed companies with a combined market capitalization of $73bn, and 17 of them are valued above $1bn. Three-month average daily traded value reached $147mn, ranking second only to Vietnam, while the annual turnover-to-market-capitalization ratio was 52%.

Pakistan's market capitalization equalled 18% of GDP, noticeably lower than many regional peers, and worked out to $282 per person. Its GDP per capita of $1,571 ranked lowest among 21 markets in the comparison. Vietnam had the largest weighting in the index at 30%, while Kenya matched Pakistan at 5%.