Consider the following statements :
1. Statement-I : Switzerland is one of the leading exporters of gold in terms of value.
2. 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-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I
C
Statement-I is correct but Statement-II is incorrect
D
Statement-I is incorrect but Statement-II is correct
Correct Answer: Option C
Explanation
1. Statement-I asserts that Switzerland is one of the leading exporters of gold in terms of value. Switzerland is a major global hub for gold refining and trade. It imports large quantities of raw gold and exports refined gold products, making it consistently one of the top exporters by value. This statement is correct.
2. Statement-II claims that Switzerland has the second largest gold reserves in the world. While Switzerland holds substantial official gold reserves, it typically ranks around 7th or 8th globally, behind countries like the USA, Germany, Italy, France, Russia, and China. It does not hold the second largest reserves. This statement is incorrect.
3. Since Statement-I is correct and Statement-II is incorrect, option (C) is the correct choice.