The cost composition of entrepot trade in Singapore is relatively complex. Firstly, there are transportation costs. The shipping costs will vary depending on the weight, volume, transportation distance of the goods and different shipping companies. For example, for ordinary goods in a 20-foot standard container from China to Singapore, the shipping costs may range from several hundred to over a thousand US dollars.
The warehousing costs depend on the storage time of the goods and the type of warehouse. The cost of an ordinary warehouse may be around several tens of Singapore dollars per cubic meter per month.
In terms of taxes and fees, Singapore does not levy import duties on most goods, but there may be a consumption tax of about 7%, which depends on the category of the goods. In addition, there are also customs declaration fees, etc. The cost of each customs declaration is approximately several hundred Singapore dollars. The cost differences of entrepot trade for different types of goods are mainly reflected in transportation and taxes and fees. For example, the transportation cost of dangerous goods is higher, and special categories may have additional taxes and fees. Overall, for the entrepot trade of a small batch of ordinary goods, the cost may be several thousand Singapore dollars once; the cost of large batches and special goods will be even higher.
Professional consultant answers
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
The cost composition of entrepot trade in Singapore is relatively complex. Firstly, there are transportation costs. The shipping costs will vary depending on the weight, volume, transportation distance of the goods and different shipping companies. For example, for ordinary goods in a 20-foot standard container from China to Singapore, the shipping costs may range from several hundred to over a thousand US dollars.
The warehousing costs depend on the storage time of the goods and the type of warehouse. The cost of an ordinary warehouse may be around several tens of Singapore dollars per cubic meter per month.
In terms of taxes and fees, Singapore does not levy import duties on most goods, but there may be a consumption tax of about 7%, which depends on the category of the goods. In addition, there are also customs declaration fees, etc. The cost of each customs declaration is approximately several hundred Singapore dollars. The cost differences of entrepot trade for different types of goods are mainly reflected in transportation and taxes and fees. For example, the transportation cost of dangerous goods is higher, and special categories may have additional taxes and fees. Overall, for the entrepot trade of a small batch of ordinary goods, the cost may be several thousand Singapore dollars once; the cost of large batches and special goods will be even higher.
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
Transportation costs account for a large proportion. If it is by air freight, the charge is based on weight, and it may be more than ten Singapore dollars per kilogram, which is suitable for high-value and small-volume goods.
Elizabeth LiYears of service：3Customer Rating：5.0
Compliance and risk managerConsult
The warehousing costs are also related to the off-peak and peak seasons. There may be a certain increase during the peak season. For example, for the re-export of electronic products, the warehousing requirements are relatively high, and the costs will also be slightly higher.
Joseph ZhouYears of service：10Customer Rating：5.0
Senior foreign trade managerConsult
If you find an agency company to handle the customs declaration, the charge will be slightly higher than handling it by yourself, but it is more worry-free. Generally, the agency customs declaration will charge according to the proportion of the value of the goods.
Andrew HuangYears of service：7Customer Rating：5.0
Supply chain optimization expertConsult
The cost of goods insurance also needs to be considered. The premium rate is generally determined according to the nature of the goods and the transportation method. For ordinary goods, it may be a few thousandths.
William YangYears of service：5Customer Rating：5.0
International logistics consultantConsult
If there are transit value-added services, such as repackaging, labeling, etc., additional costs will also be incurred, which specifically depends on the complexity of the services.
Emily LiuYears of service：10Customer Rating：5.0
Settlement and payment expertConsult
Some goods may require special inspection and quarantine, which will also bring costs. For example, for food products, the inspection and quarantine process is complex, and the costs will increase accordingly.
Sarah ZhangYears of service：8Customer Rating：5.0
Document expertConsult
The short-distance transportation costs within Singapore. If the distance from the port is far, the costs also need to be included. Generally, it is charged according to the number of trips or the quantity of goods.
Jennifer WangYears of service：4Customer Rating：5.0
Market development consultantConsult
Exchange rate fluctuations may also affect the cost of entrepot trade. When it involves foreign currency settlement, attention should be paid to the changes in exchange rates, otherwise additional losses may be caused.