Sectoral Performance Trends and Differences in the Balkan and Eastern European Region

This article presents an empirical study to evaluate sector-level financial trends and differences within the Balkan and Eastern European region by use of a substantial corporate financial dataset compiled between 2013 and 2021. Financial ratio trends demonstrate that the region managed as a whole to improve corporate financial performance in the examined period with a temporary break in 2020 due to COVID-19. Country membership, margin, and liquidity ratios are indicated to be the strongest variables explaining sectoral performance differences, followed by trade turnover, profitability, and solvency ratios. Sector membership is relatively weak, but acts as a valid clustering variable.