Saudi Arabia vs Bahrain
Two sovereigns, nine shared metrics, one spread gap.
Head to head
| Saudi Arabia | Bahrain | |
|---|---|---|
| BT-SFS score | 77.5 | 45.5 |
| Composite rating | A+ | B |
| Fiscal pillar | 66.5 | 4.7 |
| External pillar | 74.0 | 37.6 |
| Macro pillar | 83.4 | 69.4 |
| Institutions pillar | 89.6 | 83.3 |
| Benchmark bond | KSA 2.75 32 | BHRAIN 5.45 32 |
| Spread over Treasuries | 75 bps | 269 bps |
| Yield to worst | 4.90% | 6.84% |
| Duration | 5.0y | 5.1y |
Metric by metric
| Metric | Saudi Arabia | Bahrain |
|---|---|---|
| Current account / GDP | -1.6% (39.6) | 3.9% (87.5) |
| International reserves, months of imports | 15.1 mo (100.0) | 1.4 mo (0.0) |
| General government debt / GDP | 32.1% (85.4) | 152.4% (0.0) |
| Interest expense / revenue | 1.9% (93.8) | 35.6% (6.3) |
| Primary balance / GDP | -3.0% (12.5) | -3.5% (8.3) |
| WGI institutional composite | 0.58 (89.6) | 0.34 (83.3) |
| Real GDP growth | 3.1% (46.9) | -0.5% (4.2) |
| GDP per capita, USD | $37,811 (97.9) | $29,569 (93.8) |
| Inflation stress | 2.3% (100.0) | 2.4% (100.0) |
Frequently asked questions
Who has stronger fundamentals, Saudi Arabia or Bahrain?
Saudi Arabia scores higher on the BT Sovereign Fundamentals Score: 77.5 (Saudi Arabia) vs 45.5 (Bahrain), a gap of 32.0 points.
Whose USD bonds trade wider, Saudi Arabia or Bahrain?
Bahrain trades wider: 75 bps (Saudi Arabia) vs 269 bps (Bahrain) over US Treasuries — a 194 bps gap on near-5-year USD benchmarks.
Related
- Saudi Arabia — full Saudi Arabia profile: pillars, metrics, history.
- Bahrain — full Bahrain profile: pillars, metrics, history.
- All sovereigns ranked on the Sovereign Signal hub.
- BT-SFS methodology paper — how the scores are built.