Below is given a passage followed by several possible inferences which can be drawn from the facts started in the passage. You have to examine each inference separately in the context of the passage and decide upon its degree of truth or falsity.

From the beginning of the new year, the good news continues on the economic front. Following on the heels of encouraging GDP growth figures for the second quarter, we now have happy tidings on the trade front as well. Now 2002 saw the country’s export record a healthy 16% increase compared to the corresponding period last year. With this, the growth rate in exports for the first eight months of the current fiscal now stands at a robust 16%. Of course part of the reason for this apparently encouraging performance is because of the base effect---exports actually fell 0.8% during 2000-01. But that is only part of the reason. For the rest, recovery is global trade and to give credit where it is due, concerted efforts by exporters have played no small role.