Venezuela Libya

Updated 2026-05-04

Venezuela

Minimum Wage

Bs.D0.68 /hr

$0.02 USD

Avg. Gross Salary

Bs.D500 /mo

Libya

Minimum Wage

LD450 /mo

$92.59 USD

Avg. Gross Salary

LD1,800 /mo

Min wage: -100% Venezuela vs Libya Avg. salary: -96% Venezuela vs Libya

The minimum wage in Venezuela is roughly 4970 times lower than in Libya 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 $370/mo in Libya, a 27.0:1 ratio. Venezuela has the tighter labor market, with unemployment at 5.3% compared to 18.8%.

Venezuela's unemployment rate is 5.3% compared to Libya's 18.8%.

Detailed Comparison

Detailed wage comparison between Venezuela and Libya
Metric	Venezuela	Libya	Diff
Minimum wage /hr	Bs.D0.68 $0.02	—	—
Minimum wage /day	Bs.D5.42 $0.15	—	—
Minimum wage /mo	Bs.D130 $3.56	LD450 $92.59	-96.2%
Avg. gross salary /mo	Bs.D500 /mo $13.70	LD1,800 /mo $370.37	-96.3%
Median individual income /yr	N/A/yr	LD7,200 /yr $1,481.48	—

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.
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.

What This Means for Workers

A minimum wage worker in Venezuela earns 496904% less per hour in USD terms than one in Libya. Standard work weeks differ: Venezuela mandates 40 hours while Libya mandates 48 hours. A minimum wage worker's weekly earnings in Venezuela are $1 vs $4,444 in Libya.

See this comparison from Libya's perspective: Libya 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 Libya?

In Venezuela, the minimum wage is Bs.D0.68/hr ($0.02 USD). In Libya, it is LD450/mo ($92.59 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 less does the average worker earn in Venezuela compared to Libya?

The average gross salary in Venezuela is Bs.D500/mo ($13.70 USD), compared to LD1,800/mo ($370.37 USD) in Libya. In USD terms, workers in Venezuela earn approximately 2604% less. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Venezuela and Libya 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 Venezuela and Libya?

Libya 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.