UPSC Prelims 2023 · Question 66 of 97
UPSC Prelims 2023 question on Swiss Gold Exports
- ExamUPSC CSE
- Year2023
- PaperGeneral Studies Paper I
- SubjectIndian Economy
- TopicExternal Sector of India
- DifficultyHard
- TypeAssertion
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?
Show answer
Answer: C. Statement-I is correct but Statement-II is incorrect
Analysis
Hence option (c) — Statement-I is correct but Statement-II is incorrect — is the correct answer.
Statement by statement
Statement I – CORRECT: In 2021, Switzerland exported $86.7B in Gold, making it the 1st largest exporter of Gold in the world. Switzerland is consistently the world's leading gold exporting country based on value.
Statement II – INCORRECT: Australia is way out in front as the country with the largest gold mine reserves in the world at 10,000 tonnes. Russia is ranked second on the USGS's list of the countries with the biggest gold mine reserves in the world with 5,300 tonnes — nearly half the amount of Australia. Switzerland does not have the second largest gold reserves.