Can Shopify support multi-market inventory?

Shopify App Store
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Can Shopify support multi-market inventory?

For example, in the UAE we would like to display different stock levels based on the user’s location along with pricing in a different currency, and the same approach for the UK and US markets.

Also, is it possible to manage stock through a third-party API? The API would return SKU inventory separately for the UK, UAE, and US, and this data should integrate with Shopify’s built-in inventory system so that Shopify pulls and updates stock directly from the API.

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All these features are available. Set up multiple markets first, then assign a warehouse location to each—shipments will all be sent from the designated location for the market. Also, configure the corresponding inventory for each warehouse. See this document for API and third-party system integration details.