Various embodiments of systems and methods for computing consumption of application programming interfaces (APIs) are described herein. Initially at an integration agent, a subscription request is received from an API management system for subscribing to an API product. Next at the integration agent, a consumption policy associated with the subscribed API product is determined, from a plurality of consumption policies received from the API management system, wherein the consumption policy includes a plurality of pre-defined policies mapped with a plurality of API consumption plans. Next at the integration agent, an API consumption plan associated with the determined consumption policy, from the plurality of API consumption plans stored in an API consumption plan store is identified. Finally at the integration agent, a consumption data for the subscribed plurality of API product is computed based on the identified API consumption plan.