DGCI&S Revises Base Year of Merchandise Trade Indices

24 Feb 2026 CW Team

The Directorate General of Commercial Intelligence and Statistics (DGCI&S) has revised the base year of merchandise trade indices to fiscal year 2022–23 to reflect current trade structure and evolving global patterns. The release presents Unit Value Index (UVI) and Quantity Index (QI) series for the period April to November of fiscal year 2025–26.

The Unit Value Index for exports stood at 105.31 in April, 99.73 in May and 96.31 in June, yielding a first quarter figure of 100.33. It registered at 99.31 in July, 100.55 in August and 104.08 in September, giving a second quarter average of 101.23, and was 103.78 in October and 105.32 in November. For imports the Unit Value Index was 92.33 in April, 97.97 in May and 91.74 in June, with a first quarter figure of 94.08. It rose to 96.34 in July, 100.81 in August and 108.69 in September, second quarter 101.93, and reached 110.17 in October and 106.59 in November.

The Quantity Index for exports was 107.85 in April, 104.76 in May and 93.88 in June, producing a first quarter value of 101.91. It recorded 103.41 in July, 102.64 in August and 111.04 in September, with a second quarter figure of 105.57, and reached 116.19 in October and 113.06 in November. For imports the Quantity Index was markedly higher, at 138.16 in April, 126.61 in May and 112.58 in June, first quarter 125.17; it was 122.47 in July, 124.06 in August and 126.45 in September, second quarter 124.32, and 137.04 in October and 121.75 in November.

The release explains that the Unit Value Index indicates growth in average unit value and that the Quantity Index is obtained by dividing the value index by the unit value index, illustrated by a value rise from Rs 10000 to Rs 24000 yielding a value index of 240 and a quantity index of 200 when the unit value index is 120. It states that comparability is meaningful only for the same month across years and outlines net, gross and income terms of trade to assist interpretation.

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