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, among 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
• Iran : Upper-middle-income economy,^[7] High human development, Islamic Republic, OPEC and GECF founding member, ECO founding member, Group of 15 member, Developing 8 Countries
• Mexico : Upper-middle-income economy,^[4] High human development, Flawed democracy, OECD member, Advanced Emerging market,^[6] G-20 major economies, G8+5 member, MINT country, NAFTA, APEC member, EAS founding member, Pacific Alliance founding member, Pacific Puma country
• 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
• Turkey : Upper-middle-income economy,^[8] Advanced economy, High human development, Hybrid regime, OECD founding member, Advanced Emerging market,^[6] G-20 major economies, MINT country, NATO member, EU Customs Union, ECO member, EU Association Agreement, founder Developing 8 Countries

Developing countries

• Bangladesh : Lower-middle-income economy,^[9] listed under the developing countries,^[9][10] has medium human development^[11] Frontier market, Hybrid regime, 3G country, SAARC founding member, BIMSTEC member, Developing 8 Countries
• Egypt : Lower-middle-income economy,^[4] Medium human development, Secondary Emerging market,^[6] Authoritarian regime, 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,^[12] Flawed Democracy, 3G country, MINT country, AU member, OPEC member, Developing 8 Countries, Economic Community of West African States (ECOWAS) member
• Pakistan : Lower-middle-income economy,^[13] Low human development, Secondary Emerging market,^[6] Hybrid Regime, G20 developing nations, ECO founding member, SAARC founding member, Economic Cooperation Organization (ECO) founding member, Developing 8 Countries.
• Vietnam : Lower-middle-income economy,^[4] Fast emerging, Medium human development, Frontier market,^[12] Authoritarian regime,^[14] 3G country, APEC member, ASEAN member, EAS founding member.

Country data

Country	Population	GDP (PPP) (2014)	GDP (nominal) (2014)	GDP per capita (PPP) (2014)	GDP per capita (nominal) (2014)	Exports (2014)	Imports (2014)	Trade (2014)	HDI (2015)
Bangladesh	150,039,000	$620.3 billion	$223.9 billion	$3,840	$1,466	$33.5 billion	$40.7 billion	$74.2 billion	0.570
Egypt	88,200,000	$943.1 billion	$286.4 billion	$11,443	$3,304	$27.1 billion	$55.2 billion	$82.3 billion	0.690
Indonesia	237,641,000	$2,685.9 billion	$888.6 billion	$9,635	$3,534	$179.4 billion	$168.4 billion	$347.8 billion	0.684
Iran	78,192,200	$1,334.3 billion	$404.1 billion	$17,114	$5,183	$95.7 billion	$61.2 billion	$156.9 billion	0.766
Mexico	123,337,000	$2,140.6 billion	$1,282.7 billion	$17,881	$10,715	$406.4 billion	$407.1 billion	$813.5 billion	0.756
Nigeria	174,507,539	$1,049.1 billion	$573.6 billion	$5,746	$3,082	$93.01 billion	$52.7 billion	$145.71 billion	0.514
Pakistan	182,490,721	$926.3 billion	$289.4 billion	$4,574	$1,343	$25.1 billion	$45.07 billion	$70.17 billion	0.538
Philippines	103,221,700	$692.2 billion	$250.1 billion	$6,597	$2,865	$53.3 billion	$63.6 billion	$116.9 billion	0.668
South Korea	50,004,441	$1,778.8 billion	$1,416.9 billion	$35,277	$28,101	$572.7 billion	$525.5 billion	$1,098.2 billion	0.898
Turkey	73,723,000	$1,508.1 billion	$806.1 billion	$18,874	$10,482	$176.6 billion	$240.4 billion	$417 billion	0.761
Vietnam	93,388,000	$510.7 billion	$186.04 billion	$5,295	$2,053	$147 billion	$138.6 billion	$285.6 billion	0.666

See also

• CIVETS
• BRIC
• MINT
• E7 (countries)
• Chindia
• Developing 8 Countries
• Emerging markets
• Emerging and growth-leading economies
• Four Asian Tigers
• G20 developing nations
• G-20 major economies
• G8+5
• Group of 24
• Group of 77
• List of countries by GDP (nominal), (per capita)
• List of countries by HDI rank
• Newly industrialized countries
• OECD
• Tiger Cub Economies
• European Union Association Agreement

References

1. Goldman Sachs’s MIST Topping BRICs as Smaller Markets Outperform - Bloomberg
2. "Indonesia negara jagoan masa depan". Retrieved August 9, 2012.
3. Global Economics Paper 134 and Jim O'Neill, BRIMCs
4. "Data - Country Groups". World Bank. Retrieved 2009-02-02.
5. Ihlwan, Moon (2009-09-21). "Korea Wins FTSE Developed World Status". BusinessWeek. Retrieved 2012-04-12.
6. See FTSE emerging markets list
7. Torbat, Akbar E. (2010-09-27). "Industrialization and Dependency: the Case of Iran". Los Angeles: California State University. Retrieved 2011-09-04.
8. "Country and lending groups", World Bank, Retrieved July 2, 2013
9. "Country and Lending Groups". World Bank. Retrieved 2015-03-11.
10. "International Statistical Institute (ISI), 2014". Developing Countries. The International Statistical Institute. Retrieved 2015-03-11.
11. "Bangladesh Economy is a Star in the World Economy says UN Expert" (PDF). United Nations. 2011. Retrieved July 6, 2013.
12. See FTSE frontier markets list
13. "Country and Lending Groups | Data". Data.worldbank.org. Retrieved 2012-04-12.
14. "Vietnam country profile - Overview". BBC News. 2012-01-15. Retrieved 2012-04-12.

Further reading

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