The category of newly industrializing countries (NICs) is a social/economic classification status applied to several countries around the world by political scientists and economists.

NICs are countries that are not quite yet at the status of a full-fledged capitalist liberal democracy, but still more advanced than countries in the third world or in the category of least developed countries.

NICs usually share some common features, including:

  • A recent industrialisation (a switch from agricultural to industrial economies)
  • Recent reforms allowing for creater political liberalization and democracy.
  • Increased social freedoms and civil rights.
  • An increasingly "open" economy, allowing for freer trade with its neighbours.

NICs often receive lots of support from non-governmental organizations like the WTO, and other internal support bodies.

Some examples of NICs include India, Mexico, and South Africa.