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FOB, CFR and CIF quote and profit calculator, export refund included

Quotes and profit on all three terms, from your cost

Example: Purchase price per unit, VAT included: CNY 50.00, Quantity: 4500, Refund rate (%): 13, FOB unit price: USD 7.41 (at the 2026-10-09 central parity rate).

FOB price = unit cost ÷ (1 − target margin) ÷ exchange rate, where unit cost = (purchase amount with VAT − export refund + domestic costs) ÷ quantity. CFR adds the sea freight to FOB; CIF divides CFR by (1 − insurance rate × insured markup).

Source: 财政部 税务总局公告2026年第11号《关于出口业务增值税和消费税政策的公告》 (MOF and STA Announcement No. 11 of 2026, on the VAT and consumption tax policy for exports) · 国家税务总局公告2026年第5号《出口业务增值税和消费税退（免）税管理办法》 (STA Announcement No. 5 of 2026, administrative measures for export VAT and consumption tax refunds and exemptions)

Sample data
Direction

Purchase¥50 × 4500 pcs
CNY/ pcs

Tax refundtax 13% · refund 13%
%

%

Domestic coststotal ¥3000
CNY

Typically: trucking, customs, port fees

FreightUSD 1800 per container × 1
USD

Work out how many fit in a container
Insurance0.3% · markup 110%
%

Only CIF needs it

%

Commission3%
%

Leave 0 to hide the commission-inclusive prices

Exchange rate6.7330 (per 1 USD)

2026-10-09 mid-rate; use your bank's rate if you have it

Profit10% on quote
% on quote

Optionalport Ningbo

Result

This calculator needs JavaScript to run. The formula and the worked example below work without it.
FOB unit price
USD 7.41 /pc
Target margin 10% (on quote) · after rounding the price to 2 places, actual 9.98%, on cost 11.08%
FOBCFRCIF
Unit price (USD)7.417.817.84
Unit price with C3 (USD)7.648.058.08
Total (USD, 4,500 pcs)33,345.0035,145.0035,280.00
Total with commission (USD)34,380.0036,225.0036,360.00
Profit (¥)CNY 22,396.85CNY 22,396.85CNY 22,521.92
Actual margin (on quote)9.98%
on cost 11.08%		9.46%
on cost 10.45%		9.48%
on cost 10.47%
Break-even price (USD)6.677.077.09
FOBUSD 7.41
Unit price with C3 (USD)
7.64
Total (USD, 4,500 pcs)
33,345.00
Total with commission (USD)
34,380.00
Profit (¥)
CNY 22,396.85
Actual margin (on quote)
9.98%
on cost 11.08%
Break-even price (USD)
6.67
CFRUSD 7.81
Unit price with C3 (USD)
8.05
Total (USD, 4,500 pcs)
35,145.00
Total with commission (USD)
36,225.00
Profit (¥)
CNY 22,396.85
Actual margin (on quote)
9.46%
on cost 10.45%
Break-even price (USD)
7.07
CIFUSD 7.84
Unit price with C3 (USD)
8.08
Total (USD, 4,500 pcs)
35,280.00
Total with commission (USD)
36,360.00
Profit (¥)
CNY 22,521.92
Actual margin (on quote)
9.48%
on cost 10.47%
Break-even price (USD)
7.09

Unit cost CNY 44.9145 · refund total CNY 25,884.96

Verified2026-10-09Source: central parity published by CFETS under PBOC authorisation, announcement of 2026-10-09Data sources

This site is not an official channel. It is for reference only; the official publication prevails.This site entered this edition of the central parity rates on 2026-10-10 17:48 (Beijing time).

  1. Tax refundGross purchase price ÷ (1 + tax rate) × refund rateGross CNY 225,000.00 → basis CNY 199,115.04 → refund total CNY 25,884.96 (CNY 5.7522 each)
  2. CostGross purchase price − refund + domestic costsDomestic costs CNY 3,000.00; total cost CNY 202,115.04, unit cost CNY 44.9145
  3. FreightFreight total USD 1,800.00, USD 0.40 each
  4. FOB priceUnrounded USD 7.412 → quoted USD 7.41
  5. FOB profitRevenue CNY 224,511.89, cost CNY 202,115.04, profit CNY 22,396.85, margin 9.98% (the other basis 11.08%)
  6. FOB break-even priceUSD 6.67
  7. CFR priceUnrounded USD 7.812 → quoted USD 7.81
  8. CFR profitRevenue CNY 236,631.29, cost CNY 214,234.44, profit CNY 22,396.85, margin 9.46% (the other basis 10.45%)
  9. CFR break-even priceUSD 7.07
  10. CIF priceUnrounded USD 7.8379 → quoted USD 7.84
  11. CIF profitRevenue CNY 237,540.24, cost CNY 215,018.32, profit CNY 22,521.92, margin 9.48% (the other basis 10.47%)
  12. CIF break-even priceUSD 7.09

Formula

Export refund = purchase amount with VAT ÷ (1 + VAT rate) × refund ratetrading-company method, to the fen
Unit cost = (purchase amount with VAT − export refund + domestic costs) ÷ quantity
FOB price = unit cost ÷ (1 − target margin) ÷ exchange rate (margin on cost: unit cost × (1 + target margin) ÷ exchange rate)unit price to 2 places; the reverse calculation takes the rounded price you type as exact, so the commission-inclusive price can differ from the forward calculation by 0.01
CFR price = FOB price + sea freight per unit
CIF price = CFR price ÷ (1 − insurance rate × insured markup)
Price including commission = price ÷ (1 − commission rate)
Break-even price = the unit price at which the profit is 0
Not covered
  • The refund is worked out the trading-company way: purchase amount with VAT ÷ (1 + VAT rate) × refund rate. Manufacturers should use the export tax refund calculator.
  • Bank charges, exchange gains and losses, letter-of-credit fees and inspection fees are not included; add them to the domestic costs.
  • Unit prices are rounded to 2 places and totals use the rounded unit price, so the actual margin differs a little from the target.

Worked example

The same goods (tax-inclusive purchase price CNY 50.00, 4,500 pcs), quoted at two exchange rates (USD per pc):

Exchange rateFOBCFRCIF
The day’s central parity 6.73307.417.817.84
Your bank’s rate 7.08507.047.447.47

Tax rate 13%, refund rate 13%, sea freight USD 1,800.00 per container, insurance rate 0.3%, commission 3%, target margin 10% (on the quote). The two rows differ only in the rate.

FAQ

What does FOB/CIF/CFR quotes give for an example?
Example: Purchase price per unit, VAT included: CNY 50.00, Quantity: 4500, Refund rate (%): 13, FOB unit price: USD 7.41 (at the 2026-10-09 central parity rate).
What is the difference between FOB, CFR and CIF quotes?
FOB covers costs up to loading on the ship; CFR adds the sea freight; CIF adds marine insurance on top of CFR.
Why take the export refund off before quoting?
A trading company pays the VAT-inclusive price when buying, and part of that VAT is refunded after export, so the real cost is lower than the purchase price.
Should the target margin be on the quote or on cost?
On the quote, margin is profit as a share of the price; on cost, it is profit as a share of cost. The same 10% gives a lower price on cost. The page shows both.

Related tools

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Results are for reference only. The figures confirmed by the tax authorities, banks and carriers prevail.Disclaimer

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