N-11 nations in red. From left:
Mexico,
Nigeria,
Egypt,
Turkey,
Iran,
Pakistan,
Bangladesh,
Indonesia,
Vietnam,
South Korea,
Philippines
The Next Eleven (known also by the numeronym N-11) are the eleven countries – Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, 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/BRICS, the world's largest economies in the 21st century. 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 major countries (Mexico, Indonesia, [South] Korea and Turkey) also known as MIKT, made up 73 percent of all Next Eleven GDP. BRIC GDP was $13.5 trillion, while MIKT GDP at almost 30 percent of that: $3.9 trillion.[1]
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.[2] 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 [edit]
Developed countries [edit]
South Korea : Advanced economy (both CIA and IMF), High-income economy,[3] Very High human development, High-income OECD member, Developed market (in: Dow Jones index, FTSE index, and S&P index),[4] Full democracy, Development Assistance Committee member, G-20 major economies, Four Asian Tigers, KORUS FTA, European Union-Korea FTA, MIKT country, Visa Waiver Program participant, APEC founding member, ASEAN Plus Three founding member, EAS founding member
Newly industrialising countries [edit]
Iran : Upper-middle-income economy,[5] High human development, authoritarian Islamic Republic, OPEC and GECF founding member, ECO founding member, Group of 15 member, Developing 8 Countries
Mexico : Upper-middle-income economy,[3] High human development, OECD member, Advanced Emerging market,[6] G-20 major economies, G8+5 member, MIKT country, NAFTA, APEC member, EAS founding member
Philippines : Lower-middle-income economy,[3] 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
Turkey : high-income economy, Advanced economy, High human development, democracy, OECD founding member, Advanced Emerging market,[6] G-20 major economies, MIKT country, NATO member, EU Customs Union, ECO member, EU associate member, Developing 8 Countries
Developing countries [edit]
Indonesia : Lower-middle-income economy,[3] Medium human development, Secondary Emerging market,[6] Flawed democracy, 3G country, Tiger Cub Economy, G-20 major economies, MIKT country, APEC founding member, ASEAN founding member, EAS founding member, Developing 8 Countries
Egypt : Lower-middle-income economy,[3] 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,[3] Low human development, Frontier market,[7] Flawed Democracy, 3G country, AU member, OPEC member, Developing 8 Countries, Economic Community of West African States (ECOWAS) member
Pakistan : Lower-middle-income economy,[8] Medium human development, Secondary Emerging market,[6] Hybrid Regime, G20 developing nations, SAARC founding member, ECO member, Developing 8 Countries
Vietnam : Lower-middle-income economy,[3] Fast emerging, Medium human development, Frontier market,[7] Authoritarian regime,[9] 3G country, APEC member, ASEAN member, EAS founding member.
Least developed countries [edit]
See also [edit]
References [edit]
Further reading [edit]
External links [edit]
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Bangladesh : Low-income economy,[3] Medium human development, Strong growth rate,[10] Frontier market, Flawed democracy, 3G country, SAARC founding member, BIMSTEC member, Developing 8 Countries
