Freight Glossary
Customs Value – Meaning & Examples
The value of imported goods used to calculate duties, typically based on transaction value.
- Related terms
- dutiable value, declared value, import value
Customs value is the declared value of goods for the purpose of calculating import duties. Under WTO Valuation Agreement, the primary method is transaction value (the price actually paid or payable). If transaction value cannot be used, alternative methods include identical goods, similar goods, deductive, computed, or fall-back methods. Customs authorities may adjust declared values if they suspect undervaluation.
Customs Value examples
- A shipment bought CIF for $10,000 has a customs value of $10,000 (CIF includes freight and insurance).
How Customs Value is used in freight operations
Customs Value appears in quotations, bookings, shipping documents, and tracking updates. Confirm how it applies to your shipment with your carrier, forwarder, or customs representative, because practice can differ by country and contract.
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Frequently asked questions
What is Customs Value?
The value of imported goods used to calculate duties, typically based on transaction value.
What is an example of Customs Value?
A shipment bought CIF for $10,000 has a customs value of $10,000 (CIF includes freight and insurance).