Eritrea Iceland

Updated 2026-02-25

Eritrea

Minimum Wage

Nfk600 /mo

$40 USD

Avg. Gross Salary

Nfk6,000 /mo

Iceland

No statutory minimum wage

Avg. Gross Salary

kr800,000 /mo

Avg. salary: -94% Eritrea vs Iceland

Unlike Iceland, which has no statutory minimum wage, Eritrea mandates a wage floor of $40/mo. Average gross salaries diverge further: $400/mo in Eritrea versus $6,479/mo in Iceland, a 16.2:1 ratio. Iceland has the tighter labor market, with unemployment at 3.6% compared to 6.0%.

Eritrea's unemployment rate is 6.0% compared to Iceland's 3.6%.

Detailed Comparison

Detailed wage comparison between Eritrea and Iceland
Metric	Eritrea	Iceland	Diff
Minimum wage /mo	Nfk600 $40	None	—
Avg. gross salary /mo	Nfk6,000 /mo $400	kr800,000 /mo $6,478.78	-93.8%
Avg. net salary /mo	Nfk5,400 /mo $360	kr560,000 /mo $4,535.15	-92.1%
Median individual income /yr	N/A/yr	kr7,800,000 /yr $63,168.12	—

Percentage differences are based on USD equivalent values. Positive means Eritrea is higher.

Work Week

Eritrea: 44 hrs/wk standard

Labour Law sets 44 hours/week for civilian workers (8 hours/day, 5.5 days). However, the national service program operates under military regulations outside normal labour law. No reliable enforcement or monitoring data is available.
Iceland: 40 hrs/wk standard

Max 48 hrs/wk

Overtime : 1.8x pay

Standard working week is 40 hours (set by collective agreements). The Act on Working Environment and Health sets maximum average of 48 hours/week per EU Working Time Directive. Overtime premiums are set by collective agreements, typically 80% premium (1.8x) for daytime overtime, higher for evenings/weekends. A landmark 2021 agreement reduced standard hours from 40 to 36 for many public sector workers, with the private sector gradually following.

What This Means for Workers

Standard work weeks differ: Eritrea mandates 44 hours while Iceland mandates 40 hours.

See this comparison from Iceland's perspective: Iceland vs Eritrea

Compare Eritrea with...

Eritrea vs United States $ 7.25 /hr

Eritrea vs China ¥ 25 /hr

Eritrea vs Germany € 13.9 /hr

Eritrea vs United Kingdom £ 12.71 /hr

Eritrea vs India ₹ 4,576 /mo

Eritrea vs Japan ¥ 1,121 /hr

Eritrea vs France € 12.02 /hr

Eritrea vs South Korea ₩ 10,320 /hr

Eritrea vs Canada C$ 18.1 /hr

Eritrea vs Australia A$ 24.95 /hr

Eritrea vs Brazil R$ 7.37 /hr

Eritrea vs Russia ₽ 156.31 /hr

Eritrea vs Mexico MX$ 9,583.52 /mo

Eritrea vs Indonesia Rp 33,058 /hr

Eritrea vs Netherlands € 14.71 /hr

Eritrea vs Saudi Arabia ﷼ 23.08 /hr

Eritrea vs Turkey ₺ 164.94 /hr

Eritrea vs Taiwan NT$ 190 /hr

Eritrea vs Switzerland

Eritrea vs Poland zł 31.4 /hr

Eritrea vs Thailand ฿ 10,400 /mo

Eritrea vs Sweden

Eritrea vs Argentina ARS 1,762 /hr

Eritrea vs Singapore

Frequently Asked Questions

Is the minimum wage higher in Eritrea or Iceland?

In Eritrea, the minimum wage is Nfk600/mo ($40 USD). In Iceland, it is no statutory minimum wage.

How much less does the average worker earn in Eritrea compared to Iceland?

The average gross salary in Eritrea is Nfk6,000/mo ($400 USD), compared to kr800,000/mo ($6,478.78 USD) in Iceland. In USD terms, workers in Eritrea earn approximately 1520% less. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Eritrea and Iceland is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Iceland earn more in nominal terms, though how far that income stretches depends on local prices in Eritrea.

How do work hours compare between Eritrea and Iceland?

Eritrea has a longer standard work week at 44 hours, compared to 40 hours in Iceland. Workers in Eritrea work 44 hours per week by law. Longer mandatory hours can offset a nominally higher wage; a worker in Iceland working fewer hours may have comparable or better effective hourly earnings depending on the wage levels of each country. Total annual compensation depends on both the wage rate and the number of hours required.