UPSC Previous Year Question | Prelims GS | 2023

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?

  1. Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
  2. Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I
  3. Statement-I is correct but Statement-II is incorrect
  4. Statement-I is incorrect but Statement-II is correct

Answer

Correct Answer

Statement-I is correct but Statement-II is incorrect

Explanation

Switzerland is indeed one of the world's leading exporters of gold by value, largely due to its major gold refining industry (Statement-I true). However, Switzerland does not have the second-largest official gold reserves in the world—that distinction belongs to other countries like Germany/Italy/France; Switzerland's reserves rank lower (Statement-II false).

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