Key Facts: Venezuela vs Iraq Wages
- Venezuela Minimum Wage
- Bs.D0.68/hr ($0.02 USD)
- Iraq Minimum Wage
- ع.د1,823/hr ($1.40 USD)
- Venezuela Avg. Gross Monthly Salary
- Bs.D500 /mo ($13.70 USD)
- Iraq Avg. Gross Monthly Salary
- ع.د700,000 /mo ($536.40 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), Iraqi Ministry of Labour and Social Affairs / ILO (2026-02-25)
Venezuela 
Iraq
Updated 2026-05-04
The minimum wage in Venezuela is roughly 75 times lower than in Iraq in USD terms, reflecting the gap between a upper-middle-income and a upper-middle-income economy. Average gross salaries diverge further: $14/mo in Venezuela versus $536/mo in Iraq, a 39.2:1 ratio. Venezuela has the tighter labor market, with unemployment at 5.3% compared to 15.5%.
Venezuela's unemployment rate is 5.3% compared to Iraq's 15.5%.
Detailed Comparison
| Metric | Venezuela | Iraq |
|---|---|---|
| Minimum wage /hr | Bs.D0.68 $0.02 | ع.د1,823 $1.40 |
| Minimum wage /day | Bs.D5.42 $0.15 | ع.د14,583 $11.17 |
| Minimum wage /mo | Bs.D130 $3.56 | ع.د350,000 $268.20 |
| Minimum wage /yr | — | ع.د4,200,000 $3,218.39 |
| Avg. gross salary /mo | Bs.D500 /mo $13.70 | ع.د700,000 /mo $536.40 |
| Median individual income /yr | N/A/yr | ع.د3,360,000 /yr $2,574.71 |
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.
- 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.
• WAGE TRAJECTORY (USD/hr)
What This Means for Workers
A minimum wage worker in Venezuela earns 7398% less per hour in USD terms than one in Iraq. Standard work weeks differ: Venezuela mandates 40 hours while Iraq mandates 48 hours. A minimum wage worker's weekly earnings in Venezuela are $1 vs $67 in Iraq.
See this comparison from Iraq's perspective: Iraq 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 Iraq?
In Venezuela, the minimum wage is Bs.D0.68/hr ($0.02 USD). In Iraq, it is ع.د1,823/hr ($1.40 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 less does the average worker earn in Venezuela compared to Iraq?
The average gross salary in Venezuela is Bs.D500/mo ($13.70 USD), compared to ع.د700,000/mo ($536.40 USD) in Iraq. In USD terms, workers in Venezuela earn approximately 3816% less. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Venezuela and Iraq 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 Venezuela and Iraq?
Iraq has a longer standard work week at 48 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.