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U.S. Imports: Unit Values Vary Widely for Identically Classified Commodities

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Report Type Reports and Testimonies
Report Date April 26, 1995
Report No. GGD-95-90
Subject
Summary:

Importers bringing a shipment of goods into the United States must provide information to the Customs Service showing the quantity and overall value of each commodity being imported. This information allows Customs to collect duties and fees; enforce any quantitative restrictions, such as import quotas; and develop information that can be used by the Census Bureau to compile trade statistics. In recent years, these statistics have been a cause for concern because unit values for the same type of commodity can vary over a wide range when they are used to calculate a value per unit imported. This report reviews the documentation of the importation of eight classifications of commodities for fiscal year 1992 and determines (1) how widely unit values for identical types of commodities varied and (2) why such variations occurred.

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