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Glossary: NME

Acronym in full: non-market economy

In general, the termf "non-market economy" means any economy that does not operate on market principles of supply and demand, so that sales of merchandise in such economy do not reflect the fair value of the merchandise. According to the WTO, a country is regarded as a non-market economy if the government has a complete or substantially complete monopoly of its trade and where all domestic prices are fixed by the State. In cases of dumping investigation, since a strict comparison with home market prices may not be appropriate, importing countries can exercise significant discretion in the calculation of normal value of products exported from non-market economies.

 

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