MCQ
Merchandise Trade Composition MCQ - Practice Questions with Answers
Solve 27 Merchandise Trade Composition questions for RAS/RPSC preparation.
Practice questions
Q1Consider the following statements about FY 2023-24 merchandise export growth drivers: 1. Electronic goods were included among the main drivers of merchandise export growth. 2. Engineering goods exports increased from USD 107.04 billion to USD 109.32 billion. 3. Petroleum products were included in the cited list of main drivers of merchandise export growth. Which of the statements given above are correct?
Statements 1 and 2 are correct. The PIB release named electronic goods among the main drivers and stated that engineering goods exports rose from USD 107.04 billion to USD 109.32 billion. Statement 3 is incorrect because petroleum products were not in that cited list of main drivers.
Q2Consider the following statements about India-Oman trade provisions and export assistance: 1. Under the India-Oman CEPA, Oman granted zero-duty access on 98.08% of its tariff lines. 2. The same access covered 99.38% of India's exports to Oman. 3. MAS partial airfare support applies to exporters with turnover up to ₹75 crore. Which of the statements given above are correct?
Statements 1 and 2 are correct. Statement 3 is incorrect because MAS support is cited for exporters with turnover up to ₹75 lakh, not ₹75 crore.
Q3Consider the following statements about India's FY 2023-24 exports of selected principal commodities: 1. Products of iron and steel exports increased by 1.27% over 2022-23. 2. Residual chemical and allied products had a 2.04% share in total exports. 3. Motor vehicle/cars exports increased by 5.32% over 2022-23. 4. Electric machinery and equipment had a 2.83% share in total exports. Which of the statements given above are correct?
Statements 1, 2 and 4 are correct. Statement 3 is incorrect because motor vehicle/cars exports declined by 5.32%, not increased.
Q4Consider the following statements about India's trade composition in FY 2023-24: 1. Non-petroleum and non-gems and jewellery exports fell from US$ 315.64 billion in FY 2022-23 to US$ 300.21 billion in FY 2023-24. 2. Merchandise exports in FY 2023-24 were US$ 451.07 billion. 3. Electronic goods, drugs and pharmaceuticals, engineering goods and iron ore were among the main drivers of merchandise export growth. 4. Electronic goods exports increased by 23.64% in FY 2023-24. Which of the statements given above are correct?
Statement 1 is incorrect because non-petroleum and non-gems and jewellery exports increased to US$ 320.21 billion. Statement 2 is incorrect because FY 2023-24 merchandise exports were US$ 437.06 billion, not US$ 451.07 billion. Statement 3 is correct because those categories were listed as main drivers. Statement 4 is correct because electronic goods exports increased by 23.64%.
Q5According to the Commerce Ministry data released on 15 April 2026 for India's FY 2025-26 trade, consider the following statements about merchandise exports:\n1. Merchandise exports stood at US$ 441.78 billion in FY 2025-26.\n2. March 2026 was the month with the highest monthly merchandise export figure in the financial year.\nWhich of the statements given above is/are correct?
Both statements are correct. The Commerce Ministry release of 15 April 2026 confirmed merchandise exports at US$ 441.78 billion for FY 2025-26 and recorded the highest monthly merchandise exports of the year at US$ 38.92 billion in March 2026, led by petroleum products and engineering goods.
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6Consider the following statements about India's trade excluding petroleum and gems and jewellery: 1. Non-petroleum and non-gems and jewellery exports were US$ 320.21 billion in FY 2023-24. 2. Non-petroleum and non-gems and jewellery exports were lower in FY 2023-24 than in FY 2022-23. 3. Non-petroleum, non-gems and jewellery imports were US$ 422.80 billion in FY 2023-24. 4. Non-petroleum, non-gems and jewellery imports were lower in FY 2023-24 than in FY 2022-23. Which of the statements given above are correct?
7Consider the following statements about India's merchandise imports in FY 2023-24: 1. Petroleum: crude was the largest listed principal import commodity. 2. Gold imports rose by 30.06% over 2022-23. 3. Coal, coke and briquettes etc. imports were US$ 49.74 billion in 2023-24. 4. Electronics components had a 5.09% share in total imports. Which of the statements given above are correct?
8Consider the following statements about India's merchandise trade deficit in FY 2023-24: 1. The merchandise trade deficit was US$ 240.17 billion. 2. The merchandise trade deficit increased by 9.33% from FY 2022-23. 3. Merchandise exports were US$ 437.06 billion. 4. Merchandise imports were US$ 677.24 billion. Which of the statements given above are correct?
9Consider the following statements about India's merchandise exports in FY 2023-24: 1. Petroleum products were the largest principal commodity in exports among the listed top 10 commodities. 2. Drug formulations and biologicals had a 4.97% share in total exports. 3. Telecom instruments recorded 34.32% growth over 2022-23. 4. Motor vehicle/cars had a 5.32% share in total exports. Which of the statements given above are correct?
10Consider the following statements about India's FY 2023-24 exports from the Department of Commerce annual report: 1. Total exports in the principal-commodity table were US$ 437.10 billion. 2. Petroleum products had a 19.25% share in total exports. 3. Drug formulations and biologicals had a larger export value than petroleum products. 4. Telecom instruments had a larger export value than pearl, precious and semi-precious stones. Which of the statements given above are correct?
11Consider the following statements about India's top merchandise export destinations in 2023-24: 1. Singapore had a 3.30% share in India's merchandise exports. 2. The UK received US$ 12.98 billion of India's merchandise exports. 3. Bangladesh-bound exports grew by 9.50% over 2022-23. 4. Italy had a 2.01% share in India's merchandise exports. Which of the statements given above are correct?
12Consider the following statements about India's FY 2023-24 merchandise trade, based on PIB data: 1. Merchandise exports were US$ 437.06 billion in FY 2023-24. 2. Merchandise imports were US$ 677.24 billion in FY 2023-24. 3. The merchandise trade deficit was US$ 240.17 billion in FY 2023-24. 4. Merchandise exports exceeded merchandise imports in FY 2023-24. Which of the statements given above are correct?
13Consider the following statements about India's top merchandise export destinations in 2023-24: 1. The USA was India's largest merchandise export destination. 2. The UAE had an 8.15% share in India's merchandise exports. 3. The Netherlands ranked above China among India's export destinations. 4. China had a 5.12% share in India's merchandise exports. Which of the statements given above are correct?
14Consider the following statements about India's top import sources in 2023-24: 1. China was the largest import source with a 15.06% share. 2. Russia ranked second among India's import sources. 3. The UAE ranked above Russia among India's import sources. 4. The USA's share in India's imports was 6.04%. Which of the statements given above are correct?
15Consider the following statements about trade excluding petroleum and gems and jewellery in FY 2023-24: 1. Non-petroleum and non-gems and jewellery exports were USD 320.21 billion. 2. Non-petroleum, non-gems and jewellery imports were USD 435.54 billion. 3. Non-petroleum and non-gems and jewellery exports increased by 1.45% over FY 2022-23. Which of the statements given above are correct?