Maritime Freight Cost Shocks and SME Financial Performance in the Visegrad Region during and after COVID-19

In this paper is analysed how the maritime freight costs fluctuations (2020-2024) affected the small and medium sized enterprises (SMEs) across the Visegrad Group using firm-level panel data and fixed-effects regressions. Four financial indicators were examined: turnover, gross margin, inventory stock, and cost of goods sold (COGS), with the Shanghai containerized freight index (SCFI) as the key explanatory variable. Higher freight costs are associated with increased turnover, inventories, and COGS, and with reduced gross margins, though the within-firm explanatory power is low. Overall, shipping price shocks leave measurable but modest effects on SME finances, indicating partial cost pass-through and strong resilience. Supporting supply-chain adaptability and digital logistics tools may further reinforce this resilience.