These have also impacted the country's Balance of Payment or BoP deficit, which has reached record $17.23 billion, according to latest dada published by the Bangladesh Bank on Monday.
Serajul Islam, a spokesman for the central bank, blamed high import costs for the widening trade deficit, which in May increased by nearly 11.3 percent from April.
The widening trade and BoP deficits have put pressure on Bangladesh's foreign currency reserves. Serajul mentioned measures taken by the central bank to save foreign currency by discouraging imports of luxury goods.
Analyst Ahsan H Mansur said it was assumed that trade deficit would increase. He suggested measures to cut demand, such as raising prices of power and gas so that the consumers become aware and spend cautiously.
"The government is already treading that path," he said, noting that it suspended spending on "less important" projects.