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?

Answer: C. Statement-I is correct, but Statement-II is incorrect. Statement-I is CORRECT. Switzerland is one of the world's LEADING EXPORTERS of gold by value. It is the main global hub for gold refining (about 70% of world gold is refined in Switzerland) and is a top exporter, with annual gold exports often exceeding USD 80-100 billion. India, China and the UAE are major destinations. Statement-II is WRONG. Switzerland does NOT have the second largest gold reserves. The world's largest official gold reserves are held by: - USA: about 8,133 tonnes (largest) - Germany: about 3,353 tonnes - IMF (as institution): about 2,814 tonnes - Italy: about 2,452 tonnes - France: about 2,437 tonnes - Russia: about 2,300+ tonnes Switzerland's reserves are about 1,040 tonnes, ranking around 7-8th globally, not second. Source: World Gold Council Gold Demand Trends / IMF International Financial Statistics.