Latest data released by Eurostat - 15 January 2019

  • Prior €12.5 billion; revised to €13.5 billion
  • Non-seasonally adjusted trade balance €19.0 billion
  • Prior €14.0 billion

For the month of November, exports fell by 1.0% m/m while imports declined by 1.9% m/m explaining the larger trade surplus here. Not exactly the kind of thing policymakers would like to see despite the positive trade surplus.

As for trade with the US, the year-to-date November 2018 trade surplus stands at €129.0 billion and that is far greater than the year-to-date November 2017 trade surplus of €107.4 billion. Knock, knock. Trump's at the door.