Countries · Middle East
The Gulf
Oil and gas income makes the six Gulf Cooperation Council countries some of the largest investors in the world. When energy prices rise, so does the money they send abroad.
At a glance
Most of the region's savings are invested abroad by central banks and sovereign wealth funds such as Saudi Arabia's Public Investment Fund, the Abu Dhabi Investment Authority, the Qatar Investment Authority and the Kuwait Investment Authority. These funds do not publish regular figures on what they buy and sell, so the picture has to be pieced together from the official data below.
The US Treasury reports Saudi Arabia, the UAE and Kuwait separately; holdings of Qatar, Oman and Bahrain are included with other countries. Gulf investors also hold US assets through custodians in London and elsewhere, so the figures here understate the total.
Country by country
Latest World Bank figures, 2025 unless shown. Direct investment in $bn.
| Country | Population | GDP | GDP per person | Current account, % of GDP | Reserves | Direct investment in | US Treasuries, Aug 2026 | US shares, Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Saudi Arabia | 37.0m | $1.28tn | $34,537 | −2.6% | $505.2bn | $32.6bn | $141.2bn | $212.8bn |
| United Arab Emirates | 11.5m | $552.3bn (2024) | $50,274 (2024) | +15.7% (2024) | $292.3bn | $48.2bn | $116.1bn | $270.8bn |
| Qatar | 3.0m | $215.6bn | $72,525 | +14.8% | $55.8bn | $3.03bn | — | — |
| Kuwait | 4.9m | $157.2bn | $32,312 | +22.7% | $51.7bn | $0.41bn | $73.0bn | $422.6bn |
| Oman | 5.5m | $109.6bn | $19,947 | −1.1% | $18.3bn (2024) | $6.75bn | — | — |
| Bahrain | 1.6m | $49.0bn | $30,597 | +5.8% | $5.30bn | $0.82bn | — | — |
Oil price and current accounts
Gulf current account surpluses rise and fall with the oil price. The World Bank's spot Brent crude price averaged $116.8 a barrel in September 2026, 71.8% more than a year earlier, so the 2026 figures, when published, may show larger surpluses.
Brent crude oil price
Spot price, monthly average, $ a barrel.
Current account balance
Per cent of GDP.
Direct investment
Net flows in 2025, $bn.
Direct investment in and out
$bn, 2025.
Gulf holdings of US securities
End of month, Aug 2025 to Aug 2026, $bn.
Saudi Arabia
US Treasuries and shares held, $bn.
United Arab Emirates
US Treasuries and shares held, $bn.
Kuwait
US Treasuries and shares held, $bn.
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