Indonesia vs China
Two sovereigns, nine shared metrics, one spread gap.
Head to head
| Indonesia | China | |
|---|---|---|
| BT-SFS score | 61.0 | 67.7 |
| Composite rating | BBB | A+ |
| Fiscal pillar | 55.9 | 31.1 |
| External pillar | 59.5 | 91.6 |
| Macro pillar | 76.6 | 83.8 |
| Institutions pillar | 56.3 | 75.0 |
| Benchmark bond | INDON 3.55 32 | CHINA 1.75 31 |
| Spread over Treasuries | 84 bps | -32 bps |
| Yield to worst | 4.99% | 3.83% |
| Duration | 5.1y | 5.0y |
Metric by metric
| Metric | Indonesia | China |
|---|---|---|
| Current account / GDP | -1.1% (50.0) | 3.5% (83.3) |
| International reserves, months of imports | 5.7 mo (66.7) | 11.2 mo (97.8) |
| General government debt / GDP | 41.5% (77.1) | 106.9% (6.3) |
| Interest expense / revenue | 16.4% (41.7) | 4.5% (79.2) |
| Primary balance / GDP | -0.7% (47.9) | -7.0% (4.2) |
| WGI institutional composite | -0.19 (56.3) | 0.14 (75.0) |
| Real GDP growth | 5.0% (94.8) | 4.4% (83.3) |
| GDP per capita, USD | $5,362 (27.1) | $14,874 (62.5) |
| Inflation stress | 3.0% (100.0) | 1.2% (100.0) |
Frequently asked questions
Who has stronger fundamentals, Indonesia or China?
China scores higher on the BT Sovereign Fundamentals Score: 61.0 (Indonesia) vs 67.7 (China), a gap of 6.7 points.
Whose USD bonds trade wider, Indonesia or China?
Indonesia trades wider: 84 bps (Indonesia) vs -32 bps (China) over US Treasuries — a 116 bps gap on near-5-year USD benchmarks.
Related
- Indonesia — full Indonesia profile: pillars, metrics, history.
- China — full China profile: pillars, metrics, history.
- All sovereigns ranked on the Sovereign Signal hub.
- BT-SFS methodology paper — how the scores are built.