Dhaka, March 6 -- The escalating military tensions in the Middle East centered around Iran, Israel, and the United States have sent shockwaves through the Bangladeshi economy, sparking a sharp rise in energy costs and leaving thousands of tons of export goods stranded.

As the conflict threatens the vital Strait of Hormuz, economists and business leaders warn of a multi-dimensional crisis involving fuel shortages, record-high shipping costs, and a potential spike in domestic inflation.

President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Mahmud Hasan Khan said that all entrepreneurs are concerned about export and import in the Middle East conflict.

"We are talking with the government and foreign buyers on ...