Assertion: Air transport plays an important role in international trade and has higher participation in international trade as compared to the oceanic routes.
Reasoning: It has the advantage of taking the least time for carriage and handling high-value or perishable goods over long distances.

Assertion (A) is incorrect but Reasoning (R) is correct.

Air transport plays an important role in international trade. It has the advantage of taking the least time for carriage and handling high-value or perishable goods over long distances. It is very costly and unsuitable for carrying heavy and bulky commodities. This ultimately reduces the participation of this sector in international trade as compared to the oceanic routes.