The Next Eleven (known also by the numeronym N-11) are the eleven countries – Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, 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/BRICS, the world’s largest economies in the 21st century. 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 major countries (Mexico, Indonesia, [South] Korea and Turkey) also known as MIKT, made up 73 percent of all Next Eleven GDP. BRIC GDP was $13.5 trillion, while MIKT GDP at almost 30 percent of that: $3.9 trillion.[1]

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] 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.

Source: Live leak