Sweden Venezuela

Updated 2026-05-04

Sweden

No statutory minimum wage

Avg. Gross Salary

kr40,000 /mo

Venezuela

Minimum Wage

Bs.D0.68 /hr

$0.02 USD

Avg. Gross Salary

Bs.D500 /mo

Avg. salary: +31420% Sweden vs Venezuela

Sweden has no statutory minimum wage, while Venezuela sets a floor of $0/hr. Average gross salaries diverge further: $4,318/mo in Sweden versus $14/mo in Venezuela, a 315.2:1 ratio. Venezuela has the tighter labor market, with unemployment at 5.3% compared to 8.7%.

Sweden's unemployment rate is 8.7% compared to Venezuela's 5.3%.

Detailed Comparison

Detailed wage comparison between Sweden and Venezuela
Metric	Sweden	Venezuela	Diff
Minimum wage /hr	None	Bs.D0.68 $0.02	—
Minimum wage /day	None	Bs.D5.42 $0.15	—
Minimum wage /mo	None	Bs.D130 $3.56	—
Avg. gross salary /mo	kr40,000 /mo $4,317.74	Bs.D500 /mo $13.70	+31419.5%
Avg. net salary /mo	kr30,000 /mo $3,238.31	N/A/mo	—
Median individual income /yr	kr367,000 /yr $39,615.29	N/A/yr	—

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

Work Week

Sweden: 40 hrs/wk standard

Max 48 hrs/wk

Standard workweek is 40 hours (Working Hours Act / Arbetstidslagen). Maximum overtime is 48 hours over 4 weeks or 200 hours per calendar year. Overtime compensation is determined by collective agreements, not statute. Many agreements provide overtime at 150-200% of normal pay. EU Working Time Directive limits average to 48 hrs/week.
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.

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

Compare Sweden with...

Sweden vs United States $ 7.25 /hr

Sweden vs China ¥ 25 /hr

Sweden vs Germany € 13.9 /hr

Sweden vs United Kingdom £ 12.71 /hr

Sweden vs India ₹ 4,576 /mo

Sweden vs Japan ¥ 1,121 /hr

Sweden vs France € 12.02 /hr

Sweden vs South Korea ₩ 10,320 /hr

Sweden vs Canada C$ 18.1 /hr

Sweden vs Australia A$ 24.95 /hr

Sweden vs Brazil R$ 7.37 /hr

Sweden vs Russia ₽ 156.31 /hr

Sweden vs Mexico MX$ 9,583.52 /mo

Sweden vs Indonesia Rp 33,058 /hr

Sweden vs Netherlands € 14.71 /hr

Sweden vs Saudi Arabia ﷼ 23.08 /hr

Sweden vs Turkey ₺ 164.94 /hr

Sweden vs Taiwan NT$ 190 /hr

Sweden vs Switzerland

Sweden vs Poland zł 31.4 /hr

Sweden vs Thailand ฿ 10,400 /mo

Sweden vs Argentina ARS 1,762 /hr

Sweden vs Singapore

Sweden vs Norway

Frequently Asked Questions

Is the minimum wage higher in Sweden or Venezuela?

In Sweden, the minimum wage is no statutory minimum wage. In Venezuela, it is Bs.D0.68/hr ($0.02 USD).

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

The average gross salary in Sweden is kr40,000/mo ($4,317.74 USD), compared to Bs.D500/mo ($13.70 USD) in Venezuela. In USD terms, workers in Sweden earn approximately 31420% more. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Sweden and Venezuela is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Sweden earn more in nominal terms, though how far that income stretches depends on local prices in Venezuela.

How do work hours compare between Sweden and Venezuela?

Both Sweden and Venezuela mandate a similar standard work week of 40 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.