KUALA LUMPUR: Malaysia's trade is expected to expand at a moderate pace of 2% to 3% this year, said Malaysia External Trade Development Corp (Matrade) chief executive officer Datuk Dr Wong Lai Sum.

"The lower target is reflective of the moderation in world growth, uncertainties created by fluctuation in oil prices and mixed impact on sectors due to the volatile exchange rates affecting the ringgit," Wong told a news conference to announce Malaysia’s trade performance for 2014 here today.

She said the lower estimated trade growth would result in exports growing by between 2% and 3% this year.

Last year, Malaysia's total trade grew by 5.9% to RM1.45 trillion from RM1.37 trillion in 2013 on robust demand for manufactured goods which jumped 7.1%.

In 2014, exports rose 6.4% to RM766.13 billion, while imports increased 5.3% to RM683.02 billion, translating to a trade surplus of RM83.11 billion.

Wong said the trade surplus rebounded by 16.6% in 2014, compared with a 25.7% decline in 2013 and a fall of 22.8% in 2012.

"The impetus growth in exports was a record for Malaysia, which has been able to achieve a 17th consecutive year of trade surplus despite uncertain economic conditions," she added.