I don't think there is anything wrong with doing so per-se but you will need to consider how to minimise water ingreess AND provide a way for any water that does get in to get out (this is true of any electrical equipment outside BTW)
And it's definately not ok to use it as a means of running burried cables (use armored cable iether direct burried or in ducting for that).
If this is PVC then I was under the impression it wasn't UV stable and therefore would break down in the sunlight, causing it to become brittle and lose some of its mechanical protection?
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