Next Eleven

Next Eleven
N-11 countries in Magenta
Type		High potential economies
Members		11 Countries  Bangladesh  Egypt  Indonesia  Iran  Mexico  Nigeria  Pakistan  Philippines  South Korea  Turkey  Vietnam

The Next Eleven (known also by the numeronym N-11) are the eleven countries – Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, Turkey, South Korea and Vietnam – identified by Goldman Sachs investment bank and economist Jim O'Neill in a research paper as having a high potential of becoming, along with the BRICs, the world's largest economies in the 21st century.^[1] The bank chose these states, all with promising outlooks for investment and future growth, on December 12, 2005. At the end of 2011, the four most prominent countries in the Next Eleven, Mexico, Indonesia, South Korea and Turkey, made up 73 percent of all Next Eleven GDP. BRIC GDP was $13.5 trillion, while MINT GDP at almost 30 percent of that: $3.9 trillion.^[2]

The criteria that Goldman Sachs used were macroeconomic stability, political maturity, openness of trade and investment policies, and the quality of education. The N-11 paper is a follow-up to the bank's 2003 paper on the four emerging "BRIC" economies, Brazil, Russia, India, and China.^[3] It can be compared with the CIVETS list coined by Robert Ward, global forecasting director for the Economist Intelligence Unit (EIU) – having a few differences, but many similarities.

Next Eleven countries

Developed countries

• South Korea : Advanced economy (both CIA and IMF), High-income economy,^[4] Very High human development, High-income OECD member, Developed market (in: Dow Jones index, FTSE index, and S&P index),^[5] Full democracy, Development Assistance Committee member, G-20 major economies, Four Asian Tigers, KORUS FTA, European Union-Korea FTA, Visa Waiver Program participant, APEC founding member, ASEAN Plus Three founding member, EAS founding member

Newly industrialising countries

• Indonesia : Lower-middle-income economy,^[4] Medium human development, Secondary Emerging market,^[6] Flawed democracy, 3G country, Tiger Cub Economy, G-20 major economies, MINT country, APEC founding member, ASEAN founding member, EAS founding member, Developing 8 Countries
• ECO founding member, Group of 15 member, Developing 8 Countries
• Mexico : Upper-middle-income economy,^[4] High human development, OECD member, Advanced Emerging market,^[6] G-20 major economies, G8+5 member, MINT country, NAFTA, APEC member, EAS founding member
• ECO member, EU associate member, founder Developing 8 Countries
• Philippines : Lower-middle-income economy,^[4] Medium human development, Secondary Emerging market,^[6] Flawed democracy, G-20 Developing Economy, 3G country, Tiger Cub Economy, ASEAN founding member, APEC Founding member, EAS founding member

Developing countries

• Egypt : Lower-middle-income economy,^[4] Medium human development, Secondary Emerging market,^[6] Regime in transition, 3G country, G20 developing nations, AU member, CAEU founding member, COMESA member, ENP member, Developing 8 Countries
• Nigeria : Lower-middle-income economy,^[4] Low human development, Frontier market,^[9] Flawed Democracy, 3G country, MINT country, AU member, OPEC member, Developing 8 Countries, Economic Community of West African States (ECOWAS) member
• Developing 8 Countries.
• Vietnam : Lower-middle-income economy,^[4] Fast emerging, Medium human development, Frontier market,^[9] Authoritarian regime,^[11] 3G country, APEC member, ASEAN member, EAS founding member.

Least developed countries

• Bangladesh : Low-income economy,^[4] medium human development^[12] Frontier market, Flawed democracy, 3G country, SAARC founding member, BIMSTEC member, Developing 8 Countries

Country data

See also

References

Further reading

• "The N-11: More Than an Acronym" – Goldman Sachs study of N-11 nations, Global Economics Paper No: 153, March 28, 2007.