North Korea Panama

Updated 2026-02-25

North Korea

No statutory minimum wage

Avg. Gross Salary

₩100,000 /mo

Panama

Minimum Wage

B/.1.69 /hr

$1.69 USD

Avg. Gross Salary

B/.1,100 /mo

Avg. salary: -90% North Korea vs Panama

North Korea has no statutory minimum wage, while Panama sets a floor of $2/hr. Average gross salaries diverge further: $111/mo in North Korea versus $1,100/mo in Panama, a 9.9:1 ratio. North Korea has the tighter labor market, with unemployment at 3.5% compared to 8.4%.

North Korea's unemployment rate is 3.5% compared to Panama's 8.4%.

Detailed Comparison

Detailed wage comparison between North Korea and Panama
Metric	North Korea	Panama	Diff
Minimum wage /hr	None	B/.1.69 $1.69	—
Minimum wage /mo	None	B/.326 $326	—
Minimum wage /yr	None	B/.4,238 $4,238	—
Avg. gross salary /mo	₩100,000 /mo $111.11	B/.1,100 /mo $1,100	-89.9%
Avg. net salary /mo	₩90,000 /mo $100	B/.990 /mo $990	-89.9%
Median individual income /yr	N/A/yr	B/.7,800 /yr $7,800	—

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

Work Week

North Korea: 48 hrs/wk standard

The North Korean Labour Law formally sets an 8-hour working day. In practice, many workers are required to spend additional hours in compulsory political study, military training, and 'volunteer' labour campaigns. The actual workweek for state employees varies widely by sector and location. No independent verification of labour conditions is possible.
Panama: 48 hrs/wk standard

Max 48 hrs/wk

Overtime : 1.25x pay

Labour Code sets maximum ordinary workday at 8 hours (daytime), 7 hours (mixed shift), and 6 hours (nighttime). Weekly maximum 48 hours for day work. Overtime: 25% surcharge for first 3 hours, 50% thereafter on regular days; 50% on holidays; and 75% on rest days (Sundays). Night work (6pm-6am) earns a 50% surcharge.

See this comparison from Panama's perspective: Panama vs North Korea

Compare North Korea with...

North Korea vs United States $ 7.25 /hr

North Korea vs China ¥ 25 /hr

North Korea vs Germany € 13.9 /hr

North Korea vs United Kingdom £ 12.71 /hr

North Korea vs India ₹ 4,576 /mo

North Korea vs Japan ¥ 1,121 /hr

North Korea vs France € 12.02 /hr

North Korea vs South Korea ₩ 10,320 /hr

North Korea vs Canada C$ 18.1 /hr

North Korea vs Australia A$ 24.95 /hr

North Korea vs Brazil R$ 7.37 /hr

North Korea vs Russia ₽ 156.31 /hr

North Korea vs Mexico MX$ 9,583.52 /mo

North Korea vs Indonesia Rp 33,058 /hr

North Korea vs Netherlands € 14.71 /hr

North Korea vs Saudi Arabia ﷼ 23.08 /hr

North Korea vs Turkey ₺ 164.94 /hr

North Korea vs Taiwan NT$ 190 /hr

North Korea vs Switzerland

North Korea vs Poland zł 31.4 /hr

North Korea vs Thailand ฿ 10,400 /mo

North Korea vs Sweden

North Korea vs Argentina ARS 1,762 /hr

North Korea vs Singapore

Frequently Asked Questions

Is the minimum wage higher in North Korea or Panama?

In North Korea, the minimum wage is no statutory minimum wage. In Panama, it is B/.1.69/hr ($1.69 USD).

How much less does the average worker earn in North Korea compared to Panama?

The average gross salary in North Korea is ₩100,000/mo ($111.11 USD), compared to B/.1,100/mo ($1,100 USD) in Panama. In USD terms, workers in North Korea earn approximately 890% less. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between North Korea and Panama is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Panama earn more in nominal terms, though how far that income stretches depends on local prices in North Korea.

How do work hours compare between North Korea and Panama?

Both North Korea and Panama mandate a similar standard work week of 48 hours. When work hours are equal, the country with the higher minimum wage delivers proportionally higher weekly earnings. Standard work week rules set the baseline; actual hours worked often differ based on industry norms and individual employment contracts.