Strong growth in 2Q boosts sector revenues 16.6%

24 Aug 2005

Revenues in Venezuela’s telecoms market for the first half of 2005 grew 16.6% year-on-year, contributing to 3.3% of the country’s GDP, according to BNamericas. Mobile subscribers grew by 1.05 million in the three months to 30 June 2005 to total more than 5.5 million, whilst fixed lines rose 11.5% to 3.5 million and internet connections leaped 40.6%. Venezuela’s wireline market is dominated by Compañia Anónima Nacional de Teléfonos de Venezuela (CANTV), whilst the mobile sector is the site of fierce competition between five operators, Digicel, Digitel, Infonet, Movilnet and Telcel.