The Impact of the COVID-19 Pandemic on the Economic Development of Selected Sectors: Case Study in Slovakia II (Secondary and Tertiary Industry)

Abstract

The study analyzes the heterogeneous impacts of the COVID-19 pandemic on financial performance across five strategic sectors of Slovakia’s economy. Using a longitudinal dataset of 500 companies (100 per sector) spanning 2015–2022, we examine changes in profitability (ROE) and liquidity (quick ratio). The examination is made by multivariate analysis and crisis matrix visualization. The research reveals four distinct sectoral response patterns: (1) the automotive industry maintained exceptional profitability (>65% ROE) but with critically low liquidity; (2) tourism and gastronomy experienced severe profitability decline but preserved stable liquidity; (3) healthcare demonstrated conservative liquidity strengthening with modest profitability impacts; (4) metallurgy and hazard sectors showed moderate volatility patterns. We introduce a crisis matrix framework combining profitability and liquidity indicators for sectoral resilience assessment. The results are validated through PERMANOVA analysis addressing non-normal data distributions that are common in crisis periods. The results demonstrate the need for differentiated crisis support policies, challenging uniform approaches to economic resilience. The study provides empirical evidence for sector-specific vulnerability patterns. It can inform strategies for future crisis preparedness. This research contributes to the crisis management literature by demonstrating how sectoral characteristics determine financial resilience pathways. The results offer insights that are applicable to similar transition economies in Central and Eastern Europe.