Key Facts: Libya vs Venezuela Wages
- Libya Minimum Wage
- LD450/mo ($92.59 USD)
- Venezuela Minimum Wage
- Bs.D0.68/hr ($0.02 USD)
- Libya Avg. Gross Monthly Salary
- LD1,800 /mo ($370.37 USD)
- Venezuela Avg. Gross Monthly Salary
- Bs.D500 /mo ($13.70 USD)
- Data Sources
- ILO / Ministry of Labour and Rehabilitation (Libya) (2026-02-25), Venezuelan Ministry of Labour (MINPPTRASS) / Decreto 4.653/2022 / Cendas-FVM. Confirmed: legal salario mínimo has been UNCHANGED at VES 130 since March 2022 (over 4 years frozen amid hyperinflation). Effective real income for workers is dominated by the 'ingreso integral' (bono de guerra económica + CESTATICKET food bonus), increased to USD 240/month effective 1 May 2026. (2026-05-04)
Libya 
Venezuela
Updated 2026-05-04
The minimum wage in Libya is roughly 4970 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: $370/mo in Libya versus $14/mo in Venezuela, a 27.0:1 ratio. Venezuela has the tighter labor market, with unemployment at 5.3% compared to 18.8%.
Libya's unemployment rate is 18.8% compared to Venezuela's 5.3%.
Detailed Comparison
| Metric | Libya | Venezuela |
|---|---|---|
| Minimum wage /hr | — | Bs.D0.68 $0.02 |
| Minimum wage /day | — | Bs.D5.42 $0.15 |
| Minimum wage /mo | LD450 $92.59 | Bs.D130 $3.56 |
| Avg. gross salary /mo | LD1,800 /mo $370.37 | Bs.D500 /mo $13.70 |
| Median individual income /yr | LD7,200 /yr $1,481.48 | N/A/yr |
Percentage differences are based on USD equivalent values. Positive means Libya is higher.
Work Week
- Libya
-
48 hrs/wk standard
Max 48 hrs/wk
Overtime : 1.5x pay
Labour Law No. 12 (2010) sets standard at 48 hours/week (8 hrs/day, 6 days). Friday is the statutory rest day. During Ramadan, hours are reduced. Overtime paid at 1.5x. These regulations are inconsistently enforced given the political situation.
- 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.
What This Means for Workers
A minimum wage worker moving from Venezuela to Libya would see a 496904% increase in USD-equivalent hourly earnings. Standard work weeks differ: Libya mandates 48 hours while Venezuela mandates 40 hours. A minimum wage worker's weekly earnings in Libya are $4,444 vs $1 in Venezuela.
See this comparison from Venezuela's perspective: Venezuela vs Libya
Compare Libya with...
Libya vs United States $ 7.25 /hr 
Libya vs China ¥ 25 /hr 
Libya vs Germany € 13.9 /hr 
Libya vs United Kingdom £ 12.71 /hr 
Libya vs India ₹ 4,576 /mo 
Libya vs Japan ¥ 1,121 /hr 
Libya vs France € 12.02 /hr 
Libya vs South Korea ₩ 10,320 /hr 
Libya vs Canada C$ 18.1 /hr 
Libya vs Australia A$ 24.95 /hr 
Libya vs Brazil R$ 7.37 /hr 
Libya vs Russia ₽ 156.31 /hr 
Libya vs Mexico MX$ 9,583.52 /mo 
Libya vs Indonesia Rp 33,058 /hr 
Libya vs Netherlands € 14.71 /hr 
Libya vs Saudi Arabia ﷼ 23.08 /hr 
Libya vs Turkey ₺ 164.94 /hr 
Libya vs Taiwan NT$ 190 /hr 
Libya vs Switzerland 
Libya vs Poland zł 31.4 /hr 
Libya vs Thailand ฿ 10,400 /mo 
Libya vs Sweden 
Libya vs Argentina ARS 1,762 /hr 
Libya vs Singapore Frequently Asked Questions
Is the minimum wage higher in Libya or Venezuela?
In Libya, the minimum wage is LD450/mo ($92.59 USD). In Venezuela, it is Bs.D0.68/hr ($0.02 USD). Libya has the higher rate by 496904% 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 Libya compared to Venezuela?
The average gross salary in Libya is LD1,800/mo ($370.37 USD), compared to Bs.D500/mo ($13.70 USD) in Venezuela. In USD terms, workers in Libya earn approximately 2604% more. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Libya and Venezuela is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Libya earn more in nominal terms, though how far that income stretches depends on local prices in Venezuela.
How do work hours compare between Libya and Venezuela?
Libya has a longer standard work week at 48 hours, compared to 40 hours in Venezuela. Workers in Libya 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.