Key Facts: Venezuela vs Eritrea Wages
- Venezuela Minimum Wage
- Bs.D0.68/hr ($0.02 USD)
- Eritrea Minimum Wage
- Nfk600/mo ($40 USD)
- Venezuela Avg. Gross Monthly Salary
- Bs.D500 /mo ($13.70 USD)
- Eritrea Avg. Gross Monthly Salary
- Nfk6,000 /mo ($400 USD)
- Data Sources
- 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), ILO ILOSTAT / World Bank / OHCHR Eritrea reports (2026-02-25)
Venezuela 
Eritrea
Updated 2026-05-04
The minimum wage in Venezuela is roughly 2147 times lower than in Eritrea in USD terms, reflecting the gap between a upper-middle-income and a low-income economy. Average gross salaries diverge further: $14/mo in Venezuela versus $400/mo in Eritrea, a 29.2:1 ratio.
Venezuela's unemployment rate is 5.3% compared to Eritrea's 6.0%.
Detailed Comparison
| Metric | Venezuela | Eritrea |
|---|---|---|
| Minimum wage /hr | Bs.D0.68 $0.02 | — |
| Minimum wage /day | Bs.D5.42 $0.15 | — |
| Minimum wage /mo | Bs.D130 $3.56 | Nfk600 $40 |
| Avg. gross salary /mo | Bs.D500 /mo $13.70 | Nfk6,000 /mo $400 |
| Avg. net salary /mo | N/A/mo | Nfk5,400 /mo $360 |
Percentage differences are based on USD equivalent values. Positive means Venezuela is higher.
Work 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.
- 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.
What This Means for Workers
A minimum wage worker in Venezuela earns 214606% less per hour in USD terms than one in Eritrea. Standard work weeks differ: Venezuela mandates 40 hours while Eritrea mandates 44 hours. A minimum wage worker's weekly earnings in Venezuela are $1 vs $1,760 in Eritrea.
See this comparison from Eritrea's perspective: Eritrea vs Venezuela
Compare Venezuela with...
Venezuela vs United States $ 7.25 /hr 
Venezuela vs China ¥ 25 /hr 
Venezuela vs Germany € 13.9 /hr 
Venezuela vs United Kingdom £ 12.71 /hr 
Venezuela vs India ₹ 4,576 /mo 
Venezuela vs Japan ¥ 1,121 /hr 
Venezuela vs France € 12.02 /hr 
Venezuela vs South Korea ₩ 10,320 /hr 
Venezuela vs Canada C$ 18.1 /hr 
Venezuela vs Australia A$ 24.95 /hr 
Venezuela vs Brazil R$ 7.37 /hr 
Venezuela vs Russia ₽ 156.31 /hr 
Venezuela vs Mexico MX$ 9,583.52 /mo 
Venezuela vs Indonesia Rp 33,058 /hr 
Venezuela vs Netherlands € 14.71 /hr 
Venezuela vs Saudi Arabia ﷼ 23.08 /hr 
Venezuela vs Turkey ₺ 164.94 /hr 
Venezuela vs Taiwan NT$ 190 /hr 
Venezuela vs Switzerland 
Venezuela vs Poland zł 31.4 /hr 
Venezuela vs Thailand ฿ 10,400 /mo 
Venezuela vs Sweden 
Venezuela vs Argentina ARS 1,762 /hr 
Venezuela vs Singapore Frequently Asked Questions
Is the minimum wage higher in Venezuela or Eritrea?
In Venezuela, the minimum wage is Bs.D0.68/hr ($0.02 USD). In Eritrea, it is Nfk600/mo ($40 USD). Eritrea has the higher rate by 214606% 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 less does the average worker earn in Venezuela compared to Eritrea?
The average gross salary in Venezuela is Bs.D500/mo ($13.70 USD), compared to Nfk6,000/mo ($400 USD) in Eritrea. In USD terms, workers in Venezuela earn approximately 2820% less. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Venezuela and Eritrea is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Eritrea earn more in nominal terms, though how far that income stretches depends on local prices in Venezuela.
How do work hours compare between Venezuela and Eritrea?
Eritrea has a longer standard work week at 44 hours, compared to 40 hours in Venezuela. Workers in Venezuela work 40 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.