Table 3.
Correlation coefficients between Indonesian aggregate export prices and world prices for individual product categories
| HS Code | Corr. Coeff. | Product category |
|---|---|---|
| 8473 | − 0.3428 | Parts and accessories for computers and other office machines |
| 8471 | − 0.3041 | Computer equipment |
| 8525 | − 0.267 | Radio & TV transmission apparatus; video cameras & camera recorders; TV cameras |
| 6203 | − 0.2362 | Men or boys suits, ensembles, suit-type jackets, blazers & trousers |
| 8517 | − 0.2344 | Electrical apparatus for line telephony or line telegraphy; videophones; parts |
| 8527 | − 0.2116 | Radio receivers whether or not w/clock, player or recorder in the same housing |
| 8542 | − 0.1891 | Electronic integrated circuits and micro assemblies; parts thereof |
| 8528 | − 0.1493 | TV reception apparatus; video monitors & video projectors |
| 63 | − 0.1123 | Made up or worn textile articles |
| 9018 | − 0.1106 | Instruments/appliances used in medical, surgical, dental, veterinarian sciences |
| 29 | − 0.0488 | Organic Chemicals |
| 95 | − 0.0462 | Toys, games and sports equipment; parts and accessories thereof |
| 9503 | − 0.0389 | Toys; models; puzzles; parts and accessories thereof |
| 62 | − 0.0297 | Articles of apparel and clothing accessories, not knitted or crocheted |
| 88 | − 0.0272 | Aircraft, spacecraft, and parts thereof (Dec. 2002 = 100) |
| 64 | 0.0148 | Footwear and parts of such articles |
| 6403 | 0.0352 | Footwear with uppers of leather |
| 9405 | 0.046 | Lamps, lighting fixtures, & illuminated signs and parts thereof |
| 61 | 0.0647 | Articles of apparel and clothing accessories, knitted or crocheted |
| 8409 | 0.0789 | Parts for spark-ignition and diesel internal combustion piston engines |
| 90 | 0.0797 | optical, photographic, medical and measuring instruments |
| 96 | 0.1181 | Miscellaneous manufactured articles |
| 9401 | 0.1379 | Seats other than barber dental and similar |
| 9021 | 0.1391 | Orthopedic appliances; artificial body parts; hearing aids, etc. |
| 7102 | 0.1429 | Diamonds, whether or not worked, but not mounted or set |
| 8411 | 0.1464 | Turbojets, turbopropellers and other gas turbines, and parts thereof |
| 42 | 0.1566 | Articles of leather; travel goods, bags, etc., of various materials |
| 70 | 0.157 | Glass and glassware |
| 91 | 0.1601 | Clocks and watches and parts thereof |
| 9403 | 0.1697 | Furniture other than seats, |
| 8536 | 0.1762 | Electrical circuit switching, protecting or connection app. of 1000 volts or less |
| 8504 | 0.1927 | Electrical transformers, inductors & static converters (rectifiers); parts |
| 8483 | 0.2005 | Parts for transmitting power (clutches, shafts, gears & boxes, pulleys, etc.) |
| 8516 | 0.2047 | Electrothermic domestic appliances; water & space heaters; resistors |
| 2709 | 0.2055 | Petroleum oils and oils from bituminous minerals, crude |
| 82 | 0.2215 | Tools, implements, cutlery, spoons and forks, of base metal; parts thereof |
| 8703 | 0.2284 | Motor vehicles designed to transport people |
| 87 | 0.2305 | Motor vehicles and their parts |
| 8708 | 0.242 | Parts of tractors, buses, automobiles, trucks, spec. vehicles |
| 9506 | 0.2424 | Articles & equipment for sports; parts & accessories thereof |
| 94 | 0.2556 | Furniture & stuffed furnishings; lamps & lighting fittings, prefab bldgs |
| 8413 | 0.2849 | Pumps for liquids; liquid elevators; parts thereof |
| 69 | 0.2903 | Ceramic products |
| 7108 | 0.2921 | Gold (incl plated with platinum), unwrght, semi-mfg or pwdr |
| 8501 | 0.315 | Electric motors and generators (excludes generating sets) |
| 83 | 0.3488 | Miscellaneous articles of base metal |
| 8431 | 0.3566 | Parts for materials handling & construction machines |
| 40 | 0.3685 | Rubber and Articles Thereof |
| 8481 | 0.3709 | Taps, cocks, valves & similar appliances; parts thereof |
| 74 | 0.3896 | Copper and articles thereof |
| 48 | 0.4713 | Paper and paperboard; articles of paper pulp, paper or paperboard |
| 73 | 0.4718 | Articles of iron or steel |
| 76 | 0.4836 | Aluminum and articles thereof |
| 27 | 0.4939 | Mineral fuels, oils and residuals, bituminous substances and mineral waxes |
| 8414 | 0.4952 | Air or vacuum pumps, compressors and fans; vent & recycling hoods; parts |
| 2711 | 0.5006 | Petroleum gases and other gaseous hydrocarbons |
| 7601 | 0.5416 | Aluminum, unwrought |
| 72 | 0.5925 | Iron and steel |
Notes: The table reports the correlation coefficients between Indonesia’s aggregate export prices, measured in U.S. dollars, and world prices for individual product categories measured in U.S. dollars. World prices are proxied by U.S. import prices for the individual product category. HS Code represents the Harmonized System product code and Corr. Coeff. represents the correlation coefficient. Source: U.S. Bureau of Labor Statistics, CEIC Database, and calculations by the author