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The Next Eleven (or N-11) are eleven countries — Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, The Philippines, South Korea, Turkey, and Vietnam — identified by Goldman Sachs investment bank as having a high potential of becoming the world's largest economies in the 21st century along with the BRICs. The bank chose these states, all with promising outlooks for investment and future growth, on December 12, 2005.
Goldman Sachs used macroeconomic stability, political maturity, openness of trade and investment policies, and the quality of education as criteria. 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.1
South Korea is the only country labeled as a developed country by both the CIA and IMF list of advanced economies, having the largest economy and highest income per capita out of the eleven countries. It is also the only market going to be classified by FTSE Group as "developed", in September 20092. All other countries are either developing countries or newly industrialized countries according to both lists.
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Next Eleven countries
Bangladesh: (Developing country, Developing 8 Countries, South Asian Association for Regional Cooperation (SAARC) )
Egypt: (Arab League, Developing country, European Neighbourhood Policy (ENP), COMESA, G20 developing nations member)
Indonesia: (Developing country, G20 industrial nations, APEC, OPEC, Emerging Markets member)
Iran: (Developing country, OPEC, Economic Cooperation Organization (ECO), Developing 8 Countries, G-15 member)
Mexico: (Newly industrialized country, North American Free Trade Agreement (NAFTA), G8+5, G20 industrial nations member, OECD member)
Nigeria: (Developing country, G-20 developing nations member)
Pakistan: (Developing country, G-20 developing nations member, South Asian Association for Regional Cooperation Developing 8 Countries)
Philippines: (Newly industrialized country, APEC member, G20 developing nations member)
South Korea: (Developed country, Advanced economy (both CIA and IMF), Developed market (FTSE Group), KORUS FTA, APEC member, ASEAN Plus Three member, G20 industrial nations member, OECD member)
Turkey: (Newly industrialized country, EU Customs Union, G20 industrial nations member, OECD member)
Vietnam: (Developing country, APEC member, Association of Southeast Asian Nations (ASEAN) member)
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.
External links
- Development Bank Research Bulletin article
- Grant Thornton IBR - Emerging markets: reshaping the global economy. May 2008
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- This page was last modified on 22 November 2008, at 06:38.
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