MCQ
Bilateral Trade MCQ - Practice Questions with Answers
Solve 101 Bilateral Trade questions for RAS/RPSC preparation.
Practice questions
Q1Consider the following Assertion and Reason about India-Vietnam trade in FY 2024-25. Assertion: India had a trade deficit with Vietnam in FY 2024-25. Reason: India's imports from Vietnam were US$ 10,334.51 million, while its exports to Vietnam were US$ 5,428.91 million. Select the correct answer.
The Assertion is true because imports from Vietnam were higher than exports to Vietnam, creating a trade deficit for India. The Reason is also true: imports were US$ 10,334.51 million and exports were US$ 5,428.91 million. Since that import-export gap is exactly why the deficit exists, the Reason correctly explains the Assertion.
Q2Assertion (A): The Inter-Governmental Committee meeting on India-Nepal trade, transit and cooperation to control unauthorised trade was held in Kathmandu on 10-11 January 2025. Reason (R): The meeting concerned India-Nepal trade, transit and cooperation to control unauthorised trade. Choose the correct answer.
The Assertion is true because the cited meeting was held in Kathmandu on 10-11 January 2025. The Reason is also true because the meeting was on India-Nepal trade, transit and cooperation to control unauthorised trade. However, the subject of the meeting does not explain why it was held at that venue on those dates, so both statements are true but the explanatory link is not established.
Q3With reference to India-Myanmar trade in FY 2024-25, consider the following statements. 1. Total bilateral trade was US$ 2,148.26 million. 2. India's exports to Myanmar were higher than its imports from Myanmar. 3. India's imports from Myanmar were US$ 1,533.96 million. Which of the statements given above are correct?
Statement 1 is correct because India-Myanmar trade was US$ 2,148.26 million. Statement 3 is correct because India's imports from Myanmar were US$ 1,533.96 million. Statement 2 is wrong because exports were US$ 614.30 million, lower than imports.
Q4Match the India-Algeria trade component for April-October 2025 with its value: List I 1. Total bilateral trade 2. Exports 3. Imports List II P. US$ 551.87 million Q. US$ 852.17 million R. US$ 300.30 million Choose the correct code.
For India-Algeria in April-October 2025, total bilateral trade was US$ 852.17 million, exports were US$ 551.87 million and imports were US$ 300.30 million. Any pairing that assigns US$ 551.87 million to total trade, US$ 300.30 million to exports, or US$ 852.17 million to imports reverses the reported components.
Q5Match the India-Oman CEPA feature with the correct market description: List I 1. Enhanced access under the CEPA 2. Import market size mentioned for Oman List II a. Sectors such as minerals, chemicals, base metals, machinery, plastics/rubber and auto components b. USD 28+ billion import market Select the correct match.
The correct pairing is enhanced access for sectors such as minerals, chemicals, base metals, machinery, plastics/rubber and auto components, and Oman's import market size as USD 28+ billion. Pairing the sector list with the market-size entry, or repeating the same side for both, breaks the cited description.
You've seen 5 of 101 sample questions
Unlimited practice on Bilateral Trade comes with the RAS Test Series + Practice pack or Gate Pass.
More questions
6Consider the following Assertion and Reason about the India-Oman CEPA: Assertion: The India-Oman CEPA created a mobility provision for Indian workers in manufacturing and other non-services sectors. Reason: It included a first-of-its-kind provision covering Indian workers engaged in industrial activities. Choose the correct answer.
7In the Department of Commerce TIA portal's listing of India's top trading regions, which sequence is correctly stated?
8Arrange the following India-Oman CEPA events in the correct chronological order: 1. Signing of the CEPA in Muscat 2. Publication of the PIB backgrounder on the agreement Which sequence is correct?
9According to the PIB note dated 3 December 2024, the Interest Equalization Scheme on pre- and post-shipment rupee export credit was extended up to which date, and with what allocation?
10According to the Department of Commerce Annual Report 2025-26, from which date has the India-Sri Lanka Free Trade Agreement been in operation?
11According to the Department of Commerce Annual Report 2025-26, what was India-Israel bilateral trade during April-October 2025?
12Consider the following statements on ASEAN's share in India's total trade in 2024-25: 1. ASEAN accounted for 10.63% of India's total trade. 2. ASEAN's share in India's exports was 8.91%. 3. ASEAN's share in India's imports was 10.63%. Which of the statements given above are correct?
13Consider the following Assertion and Reason about India-Bhutan trade. Assertion: Under the governing arrangement for India-Bhutan trade, no basic customs duty is levied on imports from Bhutan or exports to Bhutan. Reason: India-Bhutan trade is governed by the Agreement on Trade, Commerce and Transit. Which one of the following is correct?
14Match the India-Malaysia trade component for FY 2024-25 with the corresponding figure reported by the Department of Commerce. List I 1. Total trade 2. Exports 3. Imports List II a. US$ 7,316.40 million b. US$ 19,856.27 million c. US$ 12,539.87 million Select the correct matching.
15With reference to India-Iran bilateral trade in FY 2024-25, consider the following statements. 1. Total bilateral trade was US$ 1.68 billion. 2. Indian exports to Iran were US$ 1.24 billion. 3. Indian imports from Iran were US$ 0.64 billion. Which of the statements given above are correct?