Saudi Arabia vs United Arab Emirates
Two sovereigns, nine shared metrics, one spread gap.
Head to head
| Saudi Arabia | United Arab Emirates | |
|---|---|---|
| BT-SFS score | 77.5 | 86.9 |
| Composite rating | A+ | AA |
| Fiscal pillar | 66.5 | 92.0 |
| External pillar | 74.0 | 72.1 |
| Macro pillar | 83.4 | 84.1 |
| Institutions pillar | 89.6 | 97.9 |
| Benchmark bond | KSA 2.75 32 | UAE 2 31 |
| Spread over Treasuries | 75 bps | 29 bps |
| Yield to worst | 4.90% | 4.44% |
| Duration | 5.0y | 4.9y |
Metric by metric
| Metric | Saudi Arabia | United Arab Emirates |
|---|---|---|
| Current account / GDP | -1.6% (39.6) | 11.4% (100.0) |
| International reserves, months of imports | 15.1 mo (100.0) | 5.2 mo (51.1) |
| General government debt / GDP | 32.1% (85.4) | 31.4% (87.5) |
| Interest expense / revenue | 1.9% (93.8) | 2.7% (89.6) |
| Primary balance / GDP | -3.0% (12.5) | 5.6% (100.0) |
| WGI institutional composite | 0.58 (89.6) | 0.98 (97.9) |
| Real GDP growth | 3.1% (46.9) | 3.1% (46.9) |
| GDP per capita, USD | $37,811 (97.9) | $54,214 (100.0) |
| Inflation stress | 2.3% (100.0) | 2.5% (100.0) |
Frequently asked questions
Who has stronger fundamentals, Saudi Arabia or United Arab Emirates?
United Arab Emirates scores higher on the BT Sovereign Fundamentals Score: 77.5 (Saudi Arabia) vs 86.9 (United Arab Emirates), a gap of 9.4 points.
Whose USD bonds trade wider, Saudi Arabia or United Arab Emirates?
Saudi Arabia trades wider: 75 bps (Saudi Arabia) vs 29 bps (United Arab Emirates) over US Treasuries — a 46 bps gap on near-5-year USD benchmarks.
Related
- Saudi Arabia — full Saudi Arabia profile: pillars, metrics, history.
- United Arab Emirates — full United Arab Emirates profile: pillars, metrics, history.
- All sovereigns ranked on the Sovereign Signal hub.
- BT-SFS methodology paper — how the scores are built.