PREDICTION OF UNIT VALUE INDEX OF EXPORTS OF SITC 897 JEWELRY AND PRECIOUS GOODS GROUP IN INDONESIA

Abstract

Export is an international trade activity that plays an important role in the economic progress in Indonesia. One of Indonesia's leading commodities that dominate the export market is jewelry. In export activities, the export unit value index is an important component that serves to describe the development of export commodity prices. This unit value index always changes every time and fluctuates. This research conducts a comparative analysis of the performance of parametric method, non-parametric method, and machine learning, specifically, ARIMA, Fourier series estimator, and Support Vector Regression (SVR). This study aims to evaluate the effectiveness of various methods in improving prediction accuracy for the unit value index of the SITC code 897 in Indonesia. The research data used is secondary data including monthly export unit value index data with SITC code 897 in Indonesia obtained from the Central Bureau of Statistics. The data divided into 90% training data and 10% testing data. The methods used in this analysis are ARIMA, Fourier series estimator, and SVR. The best model obtained from each method is ARIMA (1,1,1) with MAPE of 10.92%, Fourier series estimator with MAPE of 8.47%, and an SVR RBF kernel function with MAPE of 3.73%. The results of this study obtained the best method for predicting the unit value index of SITC code 897 is SVR with an RMSE value of 8.288 and very good prediction accuracy.