Next Eleven
Encyclopedia
Bangladesh
Bangladesh , officially the People's Republic of Bangladesh is a sovereign state located in South Asia. It is bordered by India on all sides except for a small border with Burma to the far southeast and by the Bay of Bengal to the south...
, Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
, Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
, Iran
Iran
Iran , officially the Islamic Republic of Iran , is a country in Southern and Western Asia. The name "Iran" has been in use natively since the Sassanian era and came into use internationally in 1935, before which the country was known to the Western world as Persia...
, Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
, Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
, Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
, South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
, Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
, and Vietnam
Vietnam
Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
— identified by Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
investment bank and Jim O'Neill
Jim O'Neill (economist)
Jim O'Neill is presently the Chairman of Goldman Sachs Asset Management. He was previously head of global economic research and commodities and strategy research at Goldman Sachs. He is best known for his prominent economic thesis regarding the economically related nations referred to as BRICs...
as having a high potential of becoming, along with the BRICS
BRICS
BRICS is an international political organisation of leading emerging economies, arising out of the inclusion of South Africa into the BRIC group in 2010. As of 2011, its five members are Brazil, Russia, India, China and South Africa...
, the world's largest economies in the 21st century. The bank chose these states, all with promising outlooks for investment and future growth
Economic growth
In economics, economic growth is defined as the increasing capacity of the economy to satisfy the wants of goods and services of the members of society. Economic growth is enabled by increases in productivity, which lowers the inputs for a given amount of output. Lowered costs increase demand...
, on December 12, 2005.
The criteria that Goldman Sachs used were macroeconomic stability
Macroeconomics
Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of the whole economy. This includes a national, regional, or global economy...
, political maturity
Political philosophy
Political philosophy is the study of such topics as liberty, justice, property, rights, law, and the enforcement of a legal code by authority: what they are, why they are needed, what, if anything, makes a government legitimate, what rights and freedoms it should protect and why, what form it...
, openness
Indices of Economic Freedom
The annual survey Economic Freedom of the World is an indicator produced by the Fraser Institute, a Canadian think tank which attempts to measure the degree of economic freedom in the world's nations. This indicator has been used in peer-reviewed studies some of which have found a range of...
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
BRIC
In economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development...
" economies, Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, and China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
. It can be compared with the CIVETS
CIVETS
The CIVETS is an acronym for favored emerging markets coined in late 2009 by Robert Ward, Global Forecasting Director for the Economist Intelligence Unit . The term has also been used by HSBC's chief executive Michael Geoghegan...
list coined by Robert Ward, Global Forecasting Director for the Economist Intelligence Unit
Economist Intelligence Unit
The Economist Intelligence Unit is part of the Economist Group.It is a research and advisory company providing country, industry and management analysis worldwide and incorporates the former Business International Corporation, a U.S. company acquired by the parent organization in 1986...
(EIU) - having a few differences, but many similarities - as well as the G20 developing nations
G20 developing nations
The G20 is a bloc of developing nations established on 20 August 2003. Distinct and separate from the G-20 major economies, the group emerged at the 5th Ministerial WTO conference, held in Cancún, Mexico, from 10 September to 14 September 2003...
.
Developed country
South KoreaEconomy of South Korea
South Korea has a market economy which ranks 15th in the world by nominal GDP and 12th by purchasing power parity , identifying it as one of the G-20 major economies. It is a high-income developed country, with a developed market, and is a member of OECD...
: Advanced economy (both CIA
Central Intelligence Agency
The Central Intelligence Agency is a civilian intelligence agency of the United States government. It is an executive agency and reports directly to the Director of National Intelligence, responsible for providing national security intelligence assessment to senior United States policymakers...
and IMF
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
), High-income economy, Very High human development, High-income OECD member, Developed market
Developed market
In investing, developed markets are those countries that are thought to be the most developed and therefore less risky.-FTSE Group's list:FTSE Group, a provider of economic and financial data, assigns the market status of countries as Developed, Advanced Emerging, Secondary Emerging or Frontier on...
(in: Dow Jones index, FTSE
FTSE
FTSE may refer to:* The FTSE Group* Stock market indices published by the FTSE Group, particularly the FTSE 100 Index on the London Stock Exchange* The Fundamental theorem of software engineering...
index, and S&P index), Full democracy
Democracy Index
The Democracy Index is an index compiled by the Economist Intelligence Unit that claims to measure the state of democracy in 167 countries, of which 166 are sovereign states and 165 are UN member states...
, Development Assistance Committee
Development Assistance Committee
The Organisation for Economic Co-operation and Development's Development Assistance Committee is a forum for selected OECD member states to discuss issues surrounding aid, development and poverty reduction in developing countries...
member, G-20 major economies
G-20 major economies
The Group of Twenty Finance Ministers and Central Bank Governors is a group of finance ministers and central bank governors from 20 major economies: 19 countries plus the European Union, which is represented by the President of the European Council and by the European Central Bank...
, Four Asian Tigers, KORUS FTA, European Union-Korea FTA, Visa Waiver Program
Visa Waiver Program
The Visa Waiver Program is a program of the United States Government which allows citizens of specific countries to travel to the United States for tourism or business for up to 90 days without having to obtain a visa. The program applies to the 50 U.S. states as well as the U.S...
participant, APEC founding member, ASEAN Plus Three founding member, EAS
East Asia Summit
The East Asia Summit is a forum held annually by leaders of, initially, 16 countries in the East Asian region. Membership will expand to 18 countries including the United States and Russia at the Sixth EAS in 2011. EAS meetings are held after annual ASEAN leaders’ meetings...
founding member
Newly industrialized country
IranEconomy of Iran
The economy of Iran is the eighteenth largest in the world by purchasing power parity and according to Iranian officials' claims is going to become the 12th largest by 2015. The economy of Iran is a mixed and transition economy with a large public sector and some 50% of the economy centrally planned...
: Upper-middle-income economy, High human development, Islamic Republic
Islamic republic
Islamic republic is the name given to several states in the Muslim world including the Islamic Republics of Pakistan, Iran, Afghanistan, and Mauritania. Pakistan adopted the title under the constitution of 1956. Mauritania adopted it on 28 November 1958. Iran adopted it after the 1979 Iranian...
, OPEC
OPEC
OPEC is an intergovernmental organization of twelve developing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has maintained its headquarters in Vienna since 1965, and hosts regular meetings...
and GECF founding member, ECO member, Group of 15
Group of 15
The Group of 15 was established at the Ninth Non-Aligned Movement Summit Meeting in Belgrade, Yugoslavia in September 1989.This informal forum was set up to foster cooperation and provide input for other international groups, such as the World Trade Organization and the Group of Eight...
member, Developing 8 Countries
Developing 8 Countries
The Developing 8 are a group of developing countries with large Muslim populations that have formed an economic development alliance. It consists of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.-History:The D-8 was founded by Necmettin Erbakan, former Turkish Prime...
Mexico
Economy of Mexico
The economy of Mexico is the 13th largest in the world in nominal terms and the 11th by purchasing power parity, according to the World Bank.Since the 1994 crisis, administrations have improved the country's macroeconomic fundamentals...
: Upper-middle-income economy, High human development, OECD member, Advanced Emerging market, Flawed democracy
Democracy Index
The Democracy Index is an index compiled by the Economist Intelligence Unit that claims to measure the state of democracy in 167 countries, of which 166 are sovereign states and 165 are UN member states...
, G-20 major economies
G-20 major economies
The Group of Twenty Finance Ministers and Central Bank Governors is a group of finance ministers and central bank governors from 20 major economies: 19 countries plus the European Union, which is represented by the President of the European Council and by the European Central Bank...
, G8+5
G8+5
The G8+5 group of leaders consists of the heads of government from the G8 nations , plus the heads of government of the five leading emerging economies .-February 2007 Declaration:On February 16, 2007, The Global Legislators Organisation The G8+5 group of leaders consists of the heads of government...
member, NAFTA
North American Free Trade Agreement
The North American Free Trade Agreement or NAFTA is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The agreement came into force on January 1, 1994. It superseded the Canada – United States Free Trade Agreement...
, APEC member Turkey
Economy of Turkey
The economy of Turkey is defined as an emerging market economy by the IMF and is largely developed, making Turkey one of the world's newly industrialized countries. The country is among the world's leading producers of agricultural products; textiles; motor vehicles, ships and other transportation...
: Upper-middle-income economy, High human development, OECD founding member, Advanced Emerging market,, G-20 major economies, EU Customs Union
European Union-Turkey Customs Union
On 31 December 1995 the customs union between Turkey and the European Union came into effect. Goods can travel between the two entities without any customs restrictions. The Customs Union does not cover essential economic areas, such as agriculture, to which bilateral trade concessions apply,...
, ECO
Economic Cooperation Organization
The Economic Cooperation Organization is an intergovernmental organization involving seven Asian and three Eurasian nations, part of the South-central Asian Union. It provides a platform to discuss ways to improve development and promote trade, and investment opportunities. The ECO is an ad hoc...
member, EU
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
associate member, Developing 8 Countries
Developing 8 Countries
The Developing 8 are a group of developing countries with large Muslim populations that have formed an economic development alliance. It consists of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.-History:The D-8 was founded by Necmettin Erbakan, former Turkish Prime...
Philippines
Economy of the Philippines
The Economy of the Philippines is the 43rd largest in the world, according to the World Bank with an estimated 2010 gross domestic product of $200 billion, it is estimated that by 2015, the ranking of the Philippines would go up to the 18th and by the year 2050 it will land on the 14th...
: Lower-middle-income economy, Medium human development, Secondary Emerging market, Flawed democracy, G20 developing nations
G20 developing nations
The G20 is a bloc of developing nations established on 20 August 2003. Distinct and separate from the G-20 major economies, the group emerged at the 5th Ministerial WTO conference, held in Cancún, Mexico, from 10 September to 14 September 2003...
, APEC founding member, ASEAN founding member, EAS founding member
Developing country
IndonesiaEconomy of Indonesia
Indonesia is the largest economy in Southeast Asia and is one of the emerging market economies of the world. The country is also a member of G-20 major economies. It has a market economy in which the government plays a significant role by owning more than 164 enterprises and administers prices on...
: Lower-middle-income economy, Medium human development, Secondary Emerging market, Flawed democracy, G-20 major economies, APEC founding member, ASEAN founding member, EAS founding member, Developing 8 Countries
Developing 8 Countries
The Developing 8 are a group of developing countries with large Muslim populations that have formed an economic development alliance. It consists of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.-History:The D-8 was founded by Necmettin Erbakan, former Turkish Prime...
Egypt
Economy of Egypt
The economy of Egypt was highly centralized under President Gamal Abdel Nasser. In the 1990s, a series of International Monetary Fund arrangements, coupled with massive external debt relief resulting from Egypt's participation in the Gulf War coalition, helped Egypt improve its macroeconomic...
: Lower-middle-income economy, Medium human development, Secondary Emerging market, Regime in transition
2011 Egyptian revolution
The 2011 Egyptian revolution took place following a popular uprising that began on Tuesday, 25 January 2011 and is still continuing as of November 2011. The uprising was mainly a campaign of non-violent civil resistance, which featured a series of demonstrations, marches, acts of civil...
, G20 developing nations, CAEU
Council of Arab Economic Unity
The Council of Arab Economic Unity was established by Egypt, Iraq, Jordan, Kuwait, Libya, Mauritania, Palestine, Saudi Arabia, Somalia, Sudan, Tunisia, Syria, United Arab Emirates and Yemen on 3 June 1957...
founding member, COMESA member, ENP member, Developing 8 Countries
Developing 8 Countries
The Developing 8 are a group of developing countries with large Muslim populations that have formed an economic development alliance. It consists of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.-History:The D-8 was founded by Necmettin Erbakan, former Turkish Prime...
Pakistan
Economy of Pakistan
The economy of Pakistan is the 47th largest in the world in nominal terms and 27th largest in the world in terms of purchasing power parity . Pakistan has a semi-industrialized economy, which mainly encompasses textiles, chemicals, food processing, agriculture and other industries...
: Lower-middle-income economy, Medium human development, Secondary Emerging market, Hybrid Regime, G20 developing nations
G20 developing nations
The G20 is a bloc of developing nations established on 20 August 2003. Distinct and separate from the G-20 major economies, the group emerged at the 5th Ministerial WTO conference, held in Cancún, Mexico, from 10 September to 14 September 2003...
, SAARC founding member, ECO member, Developing 8 Countries
Developing 8 Countries
The Developing 8 are a group of developing countries with large Muslim populations that have formed an economic development alliance. It consists of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.-History:The D-8 was founded by Necmettin Erbakan, former Turkish Prime...
Vietnam
Economy of Vietnam
The economy of Vietnam is a developing planned-market economy. Since the mid-1980s, through the "Đổi Mới" reform period, Vietnam has made a shift from a highly-centralized planned economy to a socialist-oriented market economy which use both directive and indicative planning . Over that period, the...
: Lower-middle-income economy, Fast emerging, Medium human development, Frontier market, Authoritarian regime, APEC member, ASEAN member, EAS founding member.
Least developed country
BangladeshEconomy of Bangladesh
The economy of Bangladesh is a rapidly developing market-based economy. Its per capita income in 2010 was est. US$1,700...
: Low-income economy, Medium human development, Frontier market, SAARC founding member IOR-ARC member, Developing 8 Countries
Developing 8 Countries
The Developing 8 are a group of developing countries with large Muslim populations that have formed an economic development alliance. It consists of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.-History:The D-8 was founded by Necmettin Erbakan, former Turkish Prime...
Nigeria
Economy of Nigeria
The economy of Nigeria is a middle income, mixed economy emerging market with well-developed financial, legal, communications, transport, and entertainment sectors...
: Low-income economy, Medium human development, Frontier market, Flawed Democracy, AU
African Union
The African Union is a union consisting of 54 African states. The only all-African state not in the AU is Morocco. Established on 9 July 2002, the AU was formed as a successor to the Organisation of African Unity...
member, OPEC member, Developing 8 Countries
Developing 8 Countries
The Developing 8 are a group of developing countries with large Muslim populations that have formed an economic development alliance. It consists of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.-History:The D-8 was founded by Necmettin Erbakan, former Turkish Prime...
South Korea & United Korea
Despite being a developed countryDeveloped country
A developed country is a country that has a high level of development according to some criteria. Which criteria, and which countries are classified as being developed, is a contentious issue...
, South Korea has been growing at a speed comparable to Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
and Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
. More importantly, it has a significantly higher Growth Environment Score (Goldman Sachs' way of measuring the long-term sustainability of growth) than all of the BRICs or N-11s. Commentators such as William Pesek, Jr. from Bloomberg
Bloomberg L.P.
Bloomberg L.P. is an American privately held financial software, media, and data company. Bloomberg makes up one third of the $16 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P...
argue that Korea is "Another 'BRIC' in Global Wall", suggesting that it stands out from the Next Eleven economies (N-11). South Korea will overtake Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
by 2025 and Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
by 2035 according to their paper "The N-11: More Than an Acronym". Economists from other investment firms argue that Korea will have a GDP per capita of over $90,000 by 2050, virtually identical to the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and the second highest among the G7, BRIC, and N-11 economies, suggesting that wealth is more important than size for bond investors, stating that Korea's credit rating will be rated AAA sooner than 2050.
 United KoreaKorean reunification Korean reunification refers to the hypothetical future reunification of North Korea and South Korea under a single government... |  South Korea |  North Korea |
|
|---|---|---|---|
| GDP in USD | $6.056 trillion | $4.073 trillion | $1.982 trillion |
| GDP per capita | $86,000 | $96,000 | $70,000 |
| GDP growth (2010–2050) | 4.1% | 3.3% | 12.4% |
| Total population Population A population is all the organisms that both belong to the same group or species and live in the same geographical area. The area that is used to define a sexual population is such that inter-breeding is possible between any pair within the area and more probable than cross-breeding with individuals... |
71 million | 42 million | 28 million |
In September 2009, Goldman Sachs published its 188th Global Economics Paper named "A United Korea?" which highlighted in detail the potential economic power of a United Korea, which will surpass all current G7 countries except the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, such as Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
, the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, and France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
within 30–40 years of reunification, estimating GDP to surpass $6 trillion by 2050. Cheap, skilled labor from the North combined with advanced technology and infrastructure in the South, as well as Korea's strategic location connecting three economic powers, is likely going to create an economy larger than the bulk of the G7. According to some opinions, a reunited Korea
Korean reunification
Korean reunification refers to the hypothetical future reunification of North Korea and South Korea under a single government...
could occur before 2050, or even between 2010 and 2020. If it occurred, Korean reunification would immediately raise the country's population to over 70 million.
Mexico
Primarily, along with the BRICs, Goldman Sachs argues that the economic potential of BrazilBrazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, and China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
is such that they may become (with the USA) the six most dominant economies by the year 2050. Due to Mexico's rapidly advancing infrastructure, increasing middle class, and rapidly declining poverty rates, it is expected to have a higher GDP per capita than all but three European countries by 2050, this new found local wealth also contributes to the nation's economy by creating a large domestic consumer market which in turn creates more jobs.
 MexicoMexico The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of... |
|
|---|---|
| GDP in USD | $9.340 trillion |
| GDP per capita | $63,149 |
| GDP growth (2015–2050) | 4.0% |
| Total population Population A population is all the organisms that both belong to the same group or species and live in the same geographical area. The area that is used to define a sexual population is such that inter-breeding is possible between any pair within the area and more probable than cross-breeding with individuals... |
148 million |
Indonesia
IndonesiaIndonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
is the world's fourth most populous country after China, India, and the USA and the world's third most populous democratic country after India and the USA. In 2009, BRIC and Indonesia represented about 42 and 3 percent of the world's population respectively and about 15 percent of global GDP altogether. All of them are G20 countries. By 2015, Internet users in BRIC and Indonesia will double to 1.2 billion.
At 2009, Indonesia was the only member of the G20 to lower its public debt-to-GDP ratio: a positive economic management indicator.
October 2010: Wealth has surged in emerging markets in Asia Pacific, especially India and Indonesia. In the last ten years, the total wealth of India has tripled to $3.5 trillion while that of Indonesia has grown fivefold to $1.8 trillion. The inaugural report by the Credit Suisse Research Institute defines wealth as the value of financial assets and non-financial assets (mainly real estate), minus household debt.
 IndonesiaIndonesia Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an... |
|
|---|---|
| GDP in USD | $45.200 trillion |
| GDP per capita | $107 142 |
| GDP growth (2015–2050) | 6.7% |
| Total population Population A population is all the organisms that both belong to the same group or species and live in the same geographical area. The area that is used to define a sexual population is such that inter-breeding is possible between any pair within the area and more probable than cross-breeding with individuals... |
420 million |
Pakistan
PakistanPakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
the world's sixth most populous country after China, India, USA, Indonesia, and Brazil. With most of the population working in agriculture, it is a nation with a partially democratic system though, as of 2011,GDP growth was steady during the mid-2000s at a rate of 7%; however, slowed down during the Economic crisis of 2008 to 4.7%. A large inflation rate of 24.4% and a low savings rate, and other economic factors, continue to make it difficult to sustain a high growth rate. Pakistan's GDP is US$167 billions, which makes it the 48th-largest economy in the world or 27th largest by purchasing power adjusted exchange rates. Today, Pakistan is regarded as to having the second largest economy in South Asia.
The structure of the Pakistani economy has changed from a mainly agricultural base to a strong service base. Agriculture now only accounts for roughly 20% of the GDP, while the service sector accounts for 53% of the GDP. Significant foreign investments have been made in several areas including telecommunications, real estate and energy. Other important industries include apparel and textiles (accounting for nearly 60% of exports), food processing, chemicals manufacture, and the iron and steel industries.Pakistan's exports in 2008 amounted to $20.62 billion (USD). Pakistan is a rapidly developing country.
 PakistanPakistan Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan... |
|
|---|---|
| GDP in USD | $2.085 trillion |
| GDP per capita | $7,066 |
| GDP growth (2015–2050) | 3.8% |
| Total population Population A population is all the organisms that both belong to the same group or species and live in the same geographical area. The area that is used to define a sexual population is such that inter-breeding is possible between any pair within the area and more probable than cross-breeding with individuals... |
178 million |
Philippines
The Philippines was then one of the richest countries in Asia, but due to political instability and adoption of inconsistent economic policies, it took a turn to being one of the poorest. The Philippines, despite its relatively small land area, has the world's 12th largest population. This leads to many social problems such as poverty, unemployment, and crime. However, the Philippines is now growing fast and needs are being fulfilled. It performed well compared to other Asian countries and is now considered as a newly industrialized country. It had shown its economic stability in facing financial crisesFinancial crisis
The term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these...
. According to Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
, the Philippine economy will become the 14th largest economy in the world by 2050
Historical list of ten largest countries by GDP
This historical list of the ten largest countries by GDP shows how the membership and rankings of the world's ten largest economies has changed...
.
 The Philippines |
|
|---|---|
| GDP in USD | $3.010 trillion |
| GDP per capita | $20,388 |
| GDP growth (2015–2050) | 5.2% |
| Total population Population A population is all the organisms that both belong to the same group or species and live in the same geographical area. The area that is used to define a sexual population is such that inter-breeding is possible between any pair within the area and more probable than cross-breeding with individuals... |
148 million |
See also
- CIVETSCIVETSThe CIVETS is an acronym for favored emerging markets coined in late 2009 by Robert Ward, Global Forecasting Director for the Economist Intelligence Unit . The term has also been used by HSBC's chief executive Michael Geoghegan...
- ChindiaChindiaFor the landmark in Târgovişte, see Chindia Tower. For a person of mixed Chinese and Indian origin, see Chindian.Chindia is a portmanteau word that refers to China and India together in general. The credit of coining the now popular term goes to Indian Member of Parliament Jairam Ramesh...
- BRICBRICIn economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development...
- Emerging marketsEmerging marketsEmerging markets are nations with social or business activity in the process of rapid growth and industrialization. Based on data from 2006, there are around 28 emerging markets in the world . The economies of China and India are considered to be the largest...
- Emerging and Growth-Leading EconomiesEmerging and Growth-Leading EconomiesEmerging and growth-leading economies are the key emerging economies that are expected to lead global growth in the next decade.-The EAGLEs concept:...
- Four Asian Tigers
- G20 developing nationsG20 developing nationsThe G20 is a bloc of developing nations established on 20 August 2003. Distinct and separate from the G-20 major economies, the group emerged at the 5th Ministerial WTO conference, held in Cancún, Mexico, from 10 September to 14 September 2003...
- G-20 major economiesG-20 major economiesThe Group of Twenty Finance Ministers and Central Bank Governors is a group of finance ministers and central bank governors from 20 major economies: 19 countries plus the European Union, which is represented by the President of the European Council and by the European Central Bank...
- G8+5G8+5The G8+5 group of leaders consists of the heads of government from the G8 nations , plus the heads of government of the five leading emerging economies .-February 2007 Declaration:On February 16, 2007, The Global Legislators Organisation The G8+5 group of leaders consists of the heads of government...
- List of countries by GDP (nominal), (per capita)
- List of countries by HDI rank
- Newly industrialized countriesNewly industrialized countriesThe category of newly industrialized country is a socioeconomic classification applied to several countries around the world by political scientists and economists....
- VISTA (economics)VISTA (economics)VISTA is an acronym for Vietnam, Indonesia, South Africa, Turkey, Argentina. It is used in economics in discussing emerging markets.The concept was first proposed in 2006 by BRICs Economic Research Institute of Japan....
Further reading
- "The N-11: More Than an Acronym" – Goldman Sachs study of N-11 nations, Global Economics Paper No: 153, March 28, 2007.