Q. Consider the following statements:
Statement-I: Switzerland is one of the leading exporters of gold in terms of value.
Statement-II: Switzerland has the second largest gold reserves in the world.
Which one of the following is correct in respect of the above statements?

[A] Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I.

[B] Both Statement-1 and Statement-II are correct and Statement-II is not the correct explanation for Statement-I.

[C] Statement-l is correct but Statement-II is incorrect.

[D] Statement-I is incorrect but Statement-II is correct.

Answer: C
Notes:

Exp) Option c is the correct answer.

Statement 1 is correct: It is true that Switzerland is the leading exporter of gold in the world. In 2021, Switzerland exported $86.7B in Gold, making it the 1st largest exporter of Gold in the world. The main destinations of Gold exports from Switzerland are: India ($29.3B), China ($16B), United States ($8.13B), Germany ($5.8B), and Hong Kong ($4.67B).

Statement 2 is incorrect: Switzerland does not have the second largest gold reserves in the world, rather it has the seventh largest gold reserve in the world. The top three countries with largest gold reserves in the world are the United States of America (USA) followed by Germany, Italy.

Source: https://oec.world/en/profile/bilateral-product/gold/reporter/che#:~:text=it%20the%201st-,largest,-exporter%20of%20Gold

https://www.statista.com/statistics/267998/countries-with-the-largest-gold-reserves/

Subject) Polity/IR

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