Next Eleven (N-11): Emerging Economies Identified by Goldman Sachs
The Next Eleven (N-11) are eleven countries selected in 2005 by Goldman Sachs as having strong potential to join the world's largest economies; this article explains members, origin, significance, and key risks.
Overview
The term "Next Eleven" (often abbreviated N-11) refers to a group of eleven countries that Goldman Sachs identified in 2005 as having significant potential to become major global economies during the 21st century. The label was offered as a complement to the BRICS grouping, highlighting another set of markets that could play an outsized role in global growth. The idea is not a forecast with precise dates, but a way to focus attention on economies with several favourable structural characteristics.
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Members
Origins and selection criteria
The concept was introduced by Goldman Sachs in a 2005 research note that examined long-term growth drivers such as population size and structure, education, savings rates, access to capital, macroeconomic reform, and openness to trade. Analysts selected countries that combined large or fast-growing populations with improving policy environments, sizable domestic markets and potential for industrial and service-sector expansion. The formulation emphasised where private and public investment might yield higher returns, identifying places that could attract more capital and investment.
Significance, uses and caveats
The N-11 label has been used by investors, policymakers and researchers to prioritise attention and resources. It highlights diversification beyond established advanced economies and the BRICS grouping (BRICS) by pointing to a broader set of growth opportunities. However, it is not a guarantee: countries face varied obstacles including political instability, governance challenges, infrastructure deficits and external shocks. Some members have advanced rapidly, while others have lagged or experienced setbacks.
Characteristics and notable facts
Common attributes among the N-11 include large or youthful populations, expanding urbanisation, rising labor force participation, and improving integration into global trade and supply chains. These conditions can support sustained expansion and the possibility of becoming considerably richer over decades if reforms and investment materialise. At the same time, each country follows its own path—policy choices, resource endowments and geopolitical position create divergent outcomes.
Conclusion
As a concept, the Next Eleven serves as a prism for thinking about emerging-market potential rather than a fixed club. It complements other country groupings and remains useful for comparing trajectories, assessing opportunities and weighing risks. For further reading on individual members and their economic profiles, consult country-specific sources and institutional research reports linked above.
Questions and answers
Q: Which countries are part of the Next Eleven?
A: Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South Korea, Turkey, and Vietnam.
Q: Why did Goldman Sachs choose these countries for the Next Eleven list?
A: Goldman Sachs chose these countries because they are good places for people to invest money and are likely to become richer soon.
Q: What does N-11 stand for?
A: N-11 stands for Next Eleven.
Q: What are the BRICS?
A: The BRICS are another group of countries (Brazil, Russia, India, China, South Africa) that Goldman Sachs investment bank says will become some of the world's largest economies in the 21st century, along with the N-11.
Q: When did Goldman Sachs choose these states for the Next Eleven list?
A: Goldman Sachs chose these states on December 12, 2005.
Q: What is meant by "they are likely to become a lot richer soon"?
A: "They are likely to become a lot richer soon" means that these countries have strong economic potential which is expected to lead to significant economic growth in the near future.
Q: What is the significance of the Next Eleven and BRICS becoming some of the world's largest economies?
A: The countries on both lists are expected to experience significant economic growth in the coming years and could potentially play a major role in shaping the global economy.
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AlegsaOnline.com Next Eleven (N-11): Emerging Economies Identified by Goldman Sachs Leandro Alegsa
URL: https://en.alegsaonline.com/art/69831