(Download) "Trade Relationship Between Oman and Its Major Trading Asian Partners (Report)" by American Journal of Applied Sciences # eBook PDF Kindle ePub Free
eBook details
- Title: Trade Relationship Between Oman and Its Major Trading Asian Partners (Report)
- Author : American Journal of Applied Sciences
- Release Date : January 01, 2010
- Genre: Engineering,Books,Professional & Technical,
- Pages : * pages
- Size : 192 KB
Description
INTRODUCTION The Oman economy is a developing small open economy in the Middle East with notable oil and gas resources and a considerable trade surplus. Indeed, foreign trade plays an essential role in determining Omani economic growth. The impact of foreign trade on the Omani economy can be explained through the mechanism of trade interdependence as follows: (i) an increase in Omani exports from its trading partners will increase its income, which in turn leads imports to rise. (ii) Oman's exports to its trading partners are officially determined by oil prices and the income of its trading partner. It is assumed that the downturn in oil prices will negatively affect Oman's exports to its trading partners, which result in a decrease of Omani income from its trading partners. (iii) The GDP of trading partners of Oman is a function of its exports to Oman (Omani imports) and to the rest of the world. Therefore, the raise in Omani imports will increase the income of its trading partners, which in turn results in an increase in their imports (Omani exports) from Oman. This is the feedback effect.
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