Merchandise Trade Composition MCQ — 27 Practice Questions with Answers

Merchandise Trade Composition is a Indian Economy topic in the RAS/RPSC syllabus. This page gathers exam-style Merchandise Trade Composition multiple-choice questions with correct answers and explanations, so aspirants can test recall and revise frequently examined concepts.

Practice 27 Merchandise Trade Composition multiple-choice questions with detailed answers and explanations. Ideal for RAS/RPSC exam preparation.

27 Questions Indian Economy

Reviewed by: Aspirant Academy Editorial Team

Q1. Consider 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?

A 1 and 3 only

B 1 and 2 only Correct

C 2 and 3 only

D 1, 2 and 3

Explanation

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.

Q2. Consider 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?

A 1 and 3 only

B Only 2

C 1 and 2 only Correct

D 1, 2 and 3

Explanation

Statements 1 and 2 are correct as per the verified corpus. Statement 3 is incorrect because MAS support is cited for exporters with turnover up to ₹75 lakh, not ₹75 crore.

Q3. Consider 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?

A 1 and 3 only

B 1, 2 and 4 only Correct

C 2, 3 and 4 only

D 1, 2, 3 and 4

Explanation

Statements 1, 2 and 4 are correct. Statement 3 is incorrect because motor vehicle/cars exports declined by 5.32%, not increased.

Q4. Consider 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?

A 1 and 2 only

B 2 and 3 only

C 3 and 4 only Correct

D 1, 3 and 4 only

Explanation

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%.

Q5. According 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?

A 1 only

B 2 only

C Neither 1 nor 2

D Both 1 and 2 Correct

Explanation

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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Frequently Asked Questions

How many Merchandise Trade Composition MCQ questions are available?

There are 27 Merchandise Trade Composition practice MCQs available on Aspirant Academy, with detailed answers and explanations for each question.

Are answers and explanations provided for Merchandise Trade Composition MCQs?

Yes, every Merchandise Trade Composition question comes with the correct answer and a detailed explanation to help you understand the underlying concept.

How is Merchandise Trade Composition relevant to the RAS/RPSC exam?

Merchandise Trade Composition falls under the Indian Economy section of the RAS/RPSC syllabus. It is a frequently tested area and regular practice with these MCQs will strengthen your preparation.

Can I practice Merchandise Trade Composition questions in Hindi?

Yes, Aspirant Academy offers bilingual support. You can practice Merchandise Trade Composition MCQs in both English and Hindi, including questions, options, and explanations.

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Merchandise Trade Composition MCQ — 27 Practice Questions with Answers

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