3G Countries | |
|---|---|
| Type | Growth potential economies |
| Members | |
3G (Global Growth Generating) countries are 11 countries which have been identified as sources ofgrowth potential and of profitable investment opportunities.
Prepared in February 2011, aCitigroup report[1] prepared by analystsWillem Buiter (Chief Economist) andEbrahim Rahbari claimed thatBRICS (Brazil, Russia, India, and China, plus South Africa) countries have "outlived their usefulness". "We hold the view that categories emerging markets, advanced economies, developing countries, BRICS,Next Eleven or the Growth Markets are all labels belonging to classification schemes that either have outlived their usefulness or are unlikely to ever have any," the two analysts said. So, long run continues growths are important, although some of the eleven countries identified are poor today and have decades of catch-up growth to look forward to.[2]
The grouping based on a weighted average of six growth drivers:
| Country | GDP/capita (2018)[3] | GDP/capita (US$; %)[4] | Growth (Avg. %) | 3G Index |
|---|---|---|---|---|
 Bangladesh | $4,561 | 4 | 6.3 | 0.39 |
 China | $18,066 | 16 | 5.0 | 0.81 |
 Egypt | $13,526 | 13 | 5.0 | 0.37 |
 India | $7,783 | 7 | 7.1 | 0.71 |
 Indonesia | $13,121 | 10 | 5.6 | 0.70 |
 Iraq | $17,429 | 8 | 6.1 | 0.58 |
 Mongolia | $12,989 | 8 | 6.3 | 0.63 |
 Nigeria | $6,059 | 5 | 6.9 | 0.25 |
 Philippines | $8,859 | 8 | 5.5 | 0.60 |
 Sri Lanka | $13,777 | 11 | 5.9 | 0.33 |
 Vietnam | $7,378 | 7 | 6.4 | 0.86 |
Note: China and India highlighted in gold withbold text as alsoBRIC countries. Bigger index means better conditions. GDP per capita measured at 2018 PPP USD. Average growth is average growth in forecast of real GDP per capita measured at 2018 PPP USD.
The most promising growth prospects countries areVietnam,Bangladesh,China,Egypt,India,Indonesia,Iraq,Mongolia,Nigeria,Philippines, andSri Lanka. China and India asBRIC countries are 3G countries, but not forBrazil andRussia. DevelopingAsia andAfrica will be fastest growing regions until 2050, driven by population and income growth, so all 3G countries came from two continents (Asia with nine countries and Africa with two) and none came from the other continents.[5] Vietnam has the highest Global Growth Generators Index among the 11 major economies, and China is second with 0.81, followed by India's 0.71. This holds Vietnam as the world's highest potential source of high growth and profitable investment opportunities.[6]
As of October 2011, based on a report from theHSBC Trade Confidence Index (TCI) and HSBC Trade Forecast there are four countries with significant trade volume growth, i.e. Egypt, India, Vietnam and Indonesia with growth expected at least 7.3 percent per year until 2025.[7]