Current NICs
The following table presents the list of countries consistently considered NICs by different authors and experts. Turkey and South Africa are classified as developed countries by the CIA. Turkey was a founding member of the OECD in 1961 and Mexico joined in 1994. The G8+5 group is composed of the original G8 members in addition to China, India, Mexico, South Africa and Brazil.
| Region | Country | GDP (PPP) (Billions of USD, 2011 World Bank) |
GDP per capita (PPP) (international dollars, 2011 World Bank) |
Income inequality (GINI) 2008-09 | Human Development Index (HDI, 2011) |
GDP (real) growth rate as of 2010 | GDP (real) growth rate per capita as of 2008 | Sources |
|---|---|---|---|---|---|---|---|---|
| Africa | South Africa | 555,340 | 10,977 | 63.1 | 0.619 (medium) | 2.78 | 1.29 | |
| North America | Mexico | 1,659,016 | 15,121 | 48.3 | 0.770 (high) | 5.52 | 0.75 | |
| South America | Brazil | 2,309,138 | 11,845 | 54.7 | 0.718 (high) | 7.49 | 4.06 | |
| Asia | China | 11,316,224 | 8,394 | 45.3 | 0.687 (medium) | 10.3 | 10.4 | |
| India | 4,469,763 | 3,703 | 32.5 | 0.597 (medium) | 11.1 | 8.5 | ||
| Malaysia | 447,595 | 15,578 | 46.2 | 0.761 (high) | 7.16 | 2.86 | ||
| Philippines | 393,987 | 4,111 | 43 | 0.644 (medium) | 7.6 | 1.97 | ||
| Thailand | 622,914 | 9,693 | 40 | 0.682 (medium) | 7.8 | 1.84 | ||
| Europe | Turkey | 1,288.638 | 17,499 | 39 | 0.699 (high) | 9.0 | -0.34 |
According to Goldman Sachs review of emerging economies, by 2050 the largest economies in the world will be as follows: China, USA, India, Brazil, and Mexico.
For China and India, the immense population of these two nations (each with over 1.1 billion people as of January 2009) means that per capita income will remain low even if either economy surpasses that of the United States in overall GDP. When GDP per capita is calculated according to Purchasing Power Parity (PPP), this takes into account the lower costs of living in each newly industrialized country.
Brazil, China, India, Mexico and South Africa meet annually with the G8 countries to discuss financial topics and climate change, due to their economic importance in today's global market and environmental impact, in a group known as G8+5. This group is expected to be expanded to G14 by adding Egypt alongside the five forementioned countries.
Read more about this topic: Newly Industrialized Country
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