Latest data released by Eurostat - 17 December 2019

  • Prior €18.3 billion; revised to €18.7 billion
  • Non-seasonally adjusted trade balance €28.0 billion
  • Prior €18.7 billion

Exports climbed by 2.1% on the month - reflecting a similar boost seen in France and Germany - while imports declined by 0.9% on the month, resulting in the larger trade surplus.

The bright side is that there is some nascent signs of a recovery in euro area exports over the past three months and that will provide some encouragement as we look towards the economic outlook for next year.