There are six methods of Customs Valuation and are used in a hierarchical manner except for method 4 and 5 where the law provides for reversal of order of application on request by the importer.
1 – Transaction Value Method
2 – Transaction value of identical goods
3 – Transaction value of similar goods
4 – Deductive Value Method
5 – Computed Value Method
6 – Fall back Method

It should be noted that the primary method of determining Customs Value of imported goods is the Transaction Value method (Article 1 of the Agreement on Customs Valuation).