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Next Eleven
Next Eleven

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 classified 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 2009.2 All other countries are either developing countries or newly industrialized countries according to both lists.

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Next Eleven countries

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