Iraq Venezuela

Updated 2026-05-04

Iraq

Minimum Wage

ع.د1,823 /hr

$1.40 USD

Avg. Gross Salary

ع.د700,000 /mo

Venezuela

Minimum Wage

Bs.D0.68 /hr

$0.02 USD

Avg. Gross Salary

Bs.D500 /mo

Min wage: +7398% Iraq vs Venezuela Avg. salary: +3816% Iraq vs Venezuela

The minimum wage in Iraq is roughly 75 times higher than in Venezuela in USD terms, reflecting the gap between a upper-middle-income and a upper-middle-income economy. Average gross salaries diverge further: $536/mo in Iraq versus $14/mo in Venezuela, a 39.2:1 ratio. Venezuela has the tighter labor market, with unemployment at 5.3% compared to 15.5%.

Iraq's unemployment rate is 15.5% compared to Venezuela's 5.3%.

Detailed Comparison

Detailed wage comparison between Iraq and Venezuela
Metric	Iraq	Venezuela	Diff
Minimum wage /hr	ع.د1,823 $1.40	Bs.D0.68 $0.02	+7398.3%
Minimum wage /day	ع.د14,583 $11.17	Bs.D5.42 $0.15	+7425.4%
Minimum wage /mo	ع.د350,000 $268.20	Bs.D130 $3.56	+7430.2%
Minimum wage /yr	ع.د4,200,000 $3,218.39	—	—
Avg. gross salary /mo	ع.د700,000 /mo $536.40	Bs.D500 /mo $13.70	+3815.7%
Median individual income /yr	ع.د3,360,000 /yr $2,574.71	N/A/yr	—

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

Work Week

Iraq: 48 hrs/wk standard

Max 48 hrs/wk

Overtime : 1.5x pay

Labour Law No. 37 of 2015 sets maximum ordinary working hours at 8 per day / 48 per week. Friday is the weekly rest day. Overtime is compensated at 150% of normal hourly rate. Work on official holidays is paid at 200%. Ramadan working hours are reduced. Public sector employees typically work ~40 hours/week in practice.
Venezuela: 40 hrs/wk standard

Max 44 hrs/wk

Overtime : 1.5x pay

Organic Labour Law (LOTTT) of 2012 sets the standard workweek at 40 hours (8 hours/day, 5 days). Certain sectors may work up to 44 hours/week. Overtime is limited to 100 hours/year and paid at a premium of at least 50%. Night work (7pm–5am) carries a 30% premium. Workers are entitled to 2 years advance notice before termination — the LOTTT provides extremely strong job security provisions. Saturday is often worked in practice in commerce/industry.

• WAGE TRAJECTORY (USD/hr)

Iraq Venezuela Source: wage.is · USD equivalent/hr

Year	Iraq (USD)	Venezuela (USD)
2015	$268/hr	—
2020	$268/hr	$10959/hr
2021	—	$0.27/hr
2022	$268/hr	$3.56/hr
2023	—	$3.56/hr
2024	$268/hr	$3.56/hr
2025	—	$3.56/hr
2026	—	$3.56/hr

What This Means for Workers

A minimum wage worker moving from Venezuela to Iraq would see a 7398% increase in USD-equivalent hourly earnings. Standard work weeks differ: Iraq mandates 48 hours while Venezuela mandates 40 hours. A minimum wage worker's weekly earnings in Iraq are $67 vs $1 in Venezuela.

See this comparison from Venezuela's perspective: Venezuela vs Iraq

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Frequently Asked Questions

Is the minimum wage higher in Iraq or Venezuela?

In Iraq, the minimum wage is ع.د1,823/hr ($1.40 USD). In Venezuela, it is Bs.D0.68/hr ($0.02 USD). Iraq has the higher rate by 7398% in USD terms. That nominal gap does not account for local prices; see the purchasing power comparison below for a cost-of-living-adjusted view. Workers in Venezuela may retain a larger share of their earnings if prices there are lower.

How much more does the average worker earn in Iraq compared to Venezuela?

The average gross salary in Iraq is ع.د700,000/mo ($536.40 USD), compared to Bs.D500/mo ($13.70 USD) in Venezuela. In USD terms, workers in Iraq earn approximately 3816% more. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Iraq and Venezuela is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Iraq earn more in nominal terms, though how far that income stretches depends on local prices in Venezuela.

How do work hours compare between Iraq and Venezuela?

Iraq has a longer standard work week at 48 hours, compared to 40 hours in Venezuela. Workers in Iraq work 48 hours per week by law. Longer mandatory hours can offset a nominally higher wage; a worker in Venezuela 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.