Macroeconomic impacts of COVID-19 on industrial sectors: A case study of 10 severely affected countries
نویسندگان
1 Departmant of Policy Economics, University of Tehran and Researcher of Tadbir Economic Research Institute, Tehran, Iran.
2 Departmant of Oil and Gas Economics, Faculty of Economics, Imam Sadiq University, Tehran, Iran.
3 Departmant of Industrial Management, Faculty of Management and Accounting, Allameh Tabatabai University, Tehran, Iran.
doi
10.22105/jarie.2025.501116.1737چکیده
The COVID-19 pandemic led to significant disruptions across global industries, with far-reaching economic effects that continue to shape operational practices worldwide. Driven by the need to understand sector-specific weaknesses and international variations better, this study investigates the impact of the pandemic on industrial sectors in ten countries heavily affected by the crisis: China, France, Germany, Iran, Italy, South Korea, Spain, Switzerland, the United Kingdom, and the United States. Employing input–output analysis alongside scenario modeling, the study explores seven potential outcomes based on the early-stage disruptions observed during the pandemic. The analysis focuses on key industries, including manufacturing, transportation, and services. The findings reveal that Italy faced substantial losses in industrial output, ranging from 7.24% under the best scenario to 8.04% under the worst. In comparison, China experienced more modest declines, from 1.90% to 2.49%. Sectors including transportation, hospitality, and retail were particularly hard hit, with Iran experiencing the most severe losses across industries. These results provide critical insights into sectoral resilience and emphasize the need for targeted risk management approaches and coordinated policies to aid recovery and bolster economic stability in the event of future global crises.