Telecoms sector reports 35% growth y-o-y

27 May 2005

The Venezuelan telecoms market continues to grow apace, as operating rose 34.5% year-on-year to USD86.5 million to account for more than 16% of the country’s GDP, according to local newspaper El Universal. The paper says that 357,549 new mobile subscribers signed up in the period, whilst 80,673 new fixed line users were added. The additions mean that at the end of March 2005 there were 8.78 million mobile subscribers and 3.43 fixed line customers in Venezuela.