One of the most common mistakes made by new importers is leaving parts of the landed cost out of the calculation. Below are the main components to consider.
How the Landed Cost of Imported Goods Is Calculated
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Components of landed cost
- Price of the goods at origin according to the proforma invoice
- International freight to the port or border of entry
- Cargo insurance premium
- Import duties and customs levies based on the tariff
- Clearance, storage and unloading costs
- Inland transport to the destination warehouse
- Banking charges and commissions
An important note
The exchange rate used and the timing of payment can change the landed cost significantly. It is therefore recommended to calculate the landed cost before order registration, with a reasonable safety margin.