Table 1 Data source and description.
Variables | Description | Data Source |
|---|---|---|
Unemployment rate (UE) | It is the percentage of the unemployed who are actively seeking employment and can work. | World Bank (Bank, 2024) |
Oil price (OILP) | OPEC Basket price, composed of the averaged prices of various petroleum blends produced by OPEC countries, is used to set the price of OPEC crude oil. | (Macrotrends, 2024) |
Trade openness (OPN) | The total of the products and services that are imported and exported is expressed as a percentage of GDP. | General Authority of Statistics (Statistics, 2024) |
Inflation (INFL) | Captures the quarterly percentage change in the cost of acquiring particular goods and services, as assessed by the consumer price index. This set of products and services may undergo revisions or stay the same every year or more. | General Authority of Statistics (Statistics, 2024) |
Net Foreign Direct Investment as a percentage of GDP (FDI) | Foreign direct investment (FDI) includes shareholder funds, internal company loans, and profits reinvested. This measure is a net flow of FDI as a percent of real GDP. | General Authority of Statistics (Statistics, 2024) |
Gross domestic product (GDPGR) growth rate | A chain-linked Q-o-Q growth rate of real gross domestic product. The base year period was taken as 2018–100. | General Authority of Statistics (Statistics, 2024) |
