In recent years, the bureaucratic procedures related to importing and exporting to China have been simplified. However, it is normal that certain doubts arise if it is the first contact with the Asian country. If you find yourself in this situation, at MingTa we are at your disposal so that you can easily reach your goals.
One of the questions that often arises when starting an import process from China is, how much money will it cost me to do it? We are aware that making numbers can be, for many, a real headache, since these operations always bring with them some associated costs, for many unknown.
Due to the complexity of the theory, it will be best to explain this process with an example, a practical case in which we have applied the main costs involved in any import process. In this case, an import by sea from China to Spain:
Product: White T-shirts
Unit price FOB => 2 USD
Quantity: 10.000 => total price 20.000 USD
Total volume: 20 m3 => will fit in a standard 20 ft. container
We therefore start from an FOB price of USD 20,000 with the cargo loaded on the ship. The costs we will add are as follows:
Freight from China to Spain: 2500 USD => total 22,500 USD
Insurance: 0.6% of the insured cost, about 135 USD => total 22.635 USD
Port terminal expenses 350 USD => total 22,985 USD
Tariff: 12%, about USD 2,758 => total USD 25,743
Customs import formalities: USD 250 => total USD 25,993
V.A.T.: 21%, about 5,458 USD => total 31,452 USD
Inland transportation to destination: 165 USD
FINAL TOTAL: $31,217 USD
Total Unitary: 3.12 USD
In conclusion, we can say that the price of the product has increased by 33%. The higher the value of the goods, the less transport costs affect the final price. When calculating the costs we have to take into account the type of product we want to import, as the rates vary.
