Monthly minimum wage in Colombia
Colombia: Monthly minimum wage was 1.30 million in 2024. ◆ Volatile
Monthly minimum wage in Colombia, 1995–2024
Source: International Labour Organization.
Analysis
In 2024, monthly minimum wage in Colombia stood at 1.30 million. That is the highest value across all 30 years on record.
Compared with earlier readings it is up 12.1% on the previous year and up 111.0% over ten years.
Over the whole period, monthly minimum wage in Colombia peaked at 1.30 million in 2024 and was at its lowest, 118,934, in 1995.
Colombia ranks 8th of 173 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Monthly minimum wage in Colombia, year by year
| Year | Value | Change |
|---|---|---|
| 1995 | 118,934 | — |
| 1996 | 142,125 | +19.5% |
| 1997 | 172,005 | +21.0% |
| 1998 | 203,826 | +18.5% |
| 1999 | 236,460 | +16.0% |
| 2000 | 260,100 | +10.0% |
| 2001 | 286,000 | +10.0% |
| 2002 | 309,000 | +8.0% |
| 2003 | 332,000 | +7.4% |
| 2004 | 358,000 | +7.8% |
| 2005 | 381,500 | +6.6% |
| 2006 | 408,000 | +6.9% |
| 2007 | 433,700 | +6.3% |
| 2008 | 461,500 | +6.4% |
| 2009 | 496,900 | +7.7% |
| 2010 | 515,000 | +3.6% |
| 2011 | 532,500 | +3.4% |
| 2012 | 566,700 | +6.4% |
| 2013 | 589,500 | +4.0% |
| 2014 | 616,000 | +4.5% |
| 2015 | 644,350 | +4.6% |
| 2016 | 689,455 | +7.0% |
| 2017 | 737,717 | +7.0% |
| 2018 | 781,242 | +5.9% |
| 2019 | 828,116 | +6.0% |
| 2020 | 877,803 | +6.0% |
| 2021 | 908,526 | +3.5% |
| 2022 | 1.00 million | +10.1% |
| 2023 | 1.16 million | +16.0% |
| 2024 | 1.30 million | +12.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 174,670 | 118,934 | 236,460 | 5 |
| 2000s | 372,670 | 260,100 | 496,900 | 10 |
| 2010s | 650,058 | 515,000 | 828,116 | 10 |
| 2020s | 1.05 million | 877,803 | 1.30 million | 5 |
Countries ranked near Colombia
- 5 Paraguay 2.80 million compare
- 6 Republic of Korea 2.06 million compare
- 7 Lao People's Democratic Republic 1.60 million compare
- 9 Uzbekistan 1.05 million compare
- 10 Mongolia 660,000 compare
- 11 Guinea 550,000 compare
More work & labour data for Colombia
- Population - Est. & Proj. — Total Population - Both sexes, annual -0.7218 % change on previous year (2100)
- Population - Est. & Proj. — Total Population - Male, annual growth -0.6981 % change on previous year (2100)
- Population - Est. & Proj. — Total Population - Female, annual growth -0.7453 % change on previous year (2100)
- Population - Est. & Proj. — Rural population, annual growth rate -1.81 % change on previous year (2050)
- Population - Est. & Proj. — Urban population, annual growth rate 0.1417 % change on previous year (2050)
- Population - Est. & Proj. — Urban population 48,629 1000 No (2050)
- Population - Est. & Proj. — Rural population 6,104 1000 No (2050)
- Population - Est. & Proj. — Total Population - Female 23,624 1000 No (2100)
- Population - Est. & Proj. — Total Population - Male 23,456 1000 No (2100)
- Population - Est. & Proj. — Total Population - Both sexes 47,081 1000 No (2100)
Frequently asked questions
- What is monthly minimum wage in Colombia?
- Monthly minimum wage in Colombia was 1.30 million in 2024, according to International Labour Organization.
- What is the highest monthly minimum wage recorded in Colombia?
- The highest recorded value was 1.30 million in 2024.
- What is the lowest monthly minimum wage recorded in Colombia?
- The lowest recorded value was 118,934 in 1995.
- How does Colombia rank for monthly minimum wage?
- Colombia ranks 8th out of 173 countries with data for 2024.
- Is monthly minimum wage rising or falling in Colombia?
- Over the last ten years it is up 111.0%. The long-run trend across the full record is volatile.
- Where does this Colombia data come from?
- The figures come from International Labour Organization, published as part of Monthly minimum wage (Local currency). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 30 observations, free to reuse under ILO Terms of Use (attribution required).
About this data
Data refer to the minimum monthly earnings of all employees as of December 31st of each year. Minimum wages are not reported for countries for which collective bargaining is in place for minimum wages. In cases where a national minimum wage is not mandated, the minimum wage in place in the capital or major city is used. In some cases, an average of multiple regional minimum wages is used. In countries where the minimum wage is set at the sectoral level or occupational level, the minimum wage for manufacturing or unskilled workers is generally applied. Data are converted to U.S. dollars as the common currency, using exchange rates or purchasing power parity (PPP) rates rates for private consumption expenditures. The latter series allows for international comparisons by taking account of the differences in relative prices between countries. For more information, refer to the Wages and Working Time Statistics (COND) database description.