International Journal of Academic Management Science Research (IJAMSR)   Year: 2022 | Volume: 6 | Issue: 12 | Page No.: 120-125 Trade Openness and Its Effects on the Global Competitiveness of OPEC Member Countries: Empirical Approach Download PDF OSHIOBUGIE, Omolegie Bruno Abstract: This paper examined the inter-connectedness of trade openness on the global competitiveness of OPEC member countries from 1992 to 2021. This is borne out of the inability why countries do not compete favourably even when they opt for trade integration. The panel corrected standard error formed the main regression estimate. Various trade openness proxies used are import ratio (import to GDP), export ratio (Export to GDP), Aggregate trade Ratio (Sum of exports and imports to GDP), and exchange rate (control). Meanwhile, global competitiveness was measured by per capita GDP of the OPEC Member countries. The panel corrected standard error technique was adopted. The study reported that, import ratio and exchange rate reduces the global competitiveness of OPEC member countries significantly but export ratio and aggregate trade ratio increased the global competitiveness of OPEC member countries. Hence, the study concludes that trade openness have mixed effect on the global competitiveness of OPEC Member countries. As such, export revenue should be used for productive purposes, less of exports and that the activities of the Bureau de change should be re-examined. This is critical to reducing the rising exchange rate. Lastly, trade barriers should be spotted and addressed accordingly.