Venezuela North Korea

Updated 2026-05-04

Venezuela

Minimum Wage

Bs.D0.68 /hr

$0.02 USD

Avg. Gross Salary

Bs.D500 /mo

North Korea

No statutory minimum wage

Avg. Gross Salary

₩100,000 /mo

Avg. salary: -88% Venezuela vs North Korea

Unlike North Korea, which has no statutory minimum wage, Venezuela mandates a wage floor of $0/hr. Average gross salaries diverge further: $14/mo in Venezuela versus $111/mo in North Korea, a 8.1:1 ratio.

Venezuela's unemployment rate is 5.3% compared to North Korea's 3.5%.

Detailed Comparison

Detailed wage comparison between Venezuela and North Korea
Metric	Venezuela	North Korea	Diff
Minimum wage /hr	Bs.D0.68 $0.02	None	—
Minimum wage /day	Bs.D5.42 $0.15	None	—
Minimum wage /mo	Bs.D130 $3.56	None	—
Avg. gross salary /mo	Bs.D500 /mo $13.70	₩100,000 /mo $111.11	-87.7%
Avg. net salary /mo	N/A/mo	₩90,000 /mo $100	—

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.
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.

What This Means for Workers

Standard work weeks differ: Venezuela mandates 40 hours while North Korea mandates 48 hours.

See this comparison from North Korea's perspective: North Korea 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 North Korea?

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

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

The average gross salary in Venezuela is Bs.D500/mo ($13.70 USD), compared to ₩100,000/mo ($111.11 USD) in North Korea. In USD terms, workers in Venezuela earn approximately 711% less. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Venezuela and North Korea is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in North Korea 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 North Korea?

North Korea 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.