Next Eleven

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Next Eleven
N-11 countries in Magenta
N-11 countries in Magenta
TypeHigh potential economies

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 banker and economist Jim O'Neill in a research paper as having a high potential of becoming, along with the BRICS countries, 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.

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]

Next Eleven countries[edit]

  • South Korea South Korea :A highly developed country Advanced economy (both CIA and IMF), High-income economy,[3] Very High human development, High-income OECD member, Developed market.[4]
  • Iran Iran : Upper-middle-income economy,[5] High human development, Theocracy/Parliamentary System.
  • Indonesia Indonesia : Lower-middle-income economy,[3] Medium human development, Secondary Emerging market,
  • Mexico Mexico : Upper-middle-income economy,[3] High human development, democracy, OECD member, Advanced Emerging market.
  • Philippines Philippines : Lower-middle-income economy,[3] Medium human development, Secondary Emerging market
  • Turkey Turkey : Upper-middle-income economy[6] and an advanced emerging market
  • Bangladesh Bangladesh : Lower-middle-income economy,[7] listed under the developing countries,[7][8] has medium human development[9]
  • Egypt Egypt : Lower-middle-income economy,[3] Medium human development, Secondary Emerging market
  • Nigeria Nigeria : Lower-middle-income economy,[3] Low human development, Frontier market,[10]
  • Pakistan Pakistan : Lower-middle-income economy,[11] Secondary Emerging market, Hybrid Regime.
  • Vietnam Vietnam : Lower-middle-income economy,[3] Medium human development, Frontier market,[10] authoritarian regime,[12] Socialist republic, former satellite state of the Soviet Union.

See also[edit]

  • E7 (countries)
  • List of country groupings


  1. Goldman Sachs's MIST Topping BRICs as Smaller Markets Outperform - Bloomberg
  2. Global Economics Paper 134 and Jim O'Neill, BRIMCs
  3. 3.0 3.1 3.2 3.3 3.4 3.5 3.6 "Data - Country Groups". World Bank. Retrieved 2009-02-02.
  4. Ihlwan, Moon (2009-09-21). "Korea Wins FTSE Developed World Status". BusinessWeek. Retrieved 2012-04-12.
  5. Torbat, Akbar E. (2010-09-27). "Industrialization and Dependency: the Case of Iran". Los Angeles: California State University. Retrieved 2011-09-04.
  6. "Country and lending groups", World Bank, Retrieved July 2, 2013
  7. 7.0 7.1 "Country and Lending Groups". World Bank. Retrieved 2015-03-11.
  8. "International Statistical Institute (ISI), 2014". Developing Countries. The International Statistical Institute. Archived from the original on 2015-03-17. Retrieved 2015-03-11.
  9. "Bangladesh Economy is a Star in the World Economy says UN Expert" (PDF). United Nations. 2011. Retrieved July 6, 2013.
  10. 10.0 10.1 See FTSE frontier markets list
  11. "Country and Lending Groups | Data". Retrieved 2012-04-12.
  12. "Vietnam country profile - Overview". BBC News. 2012-01-15. Retrieved 2012-04-12.

Further reading[edit]

Template:Next 11 Economies Template:Leaders of the Next Eleven Economies

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