Monthly minimum wage (Local currency) in Venezuela
Venezuela: Monthly minimum wage (Local currency) was 130 in 2024. ◆ Volatile
Monthly minimum wage in Venezuela, 1995–2024
Source: International Labour Organization.
Analysis
Venezuela recorded 130 for monthly minimum wage in 2024.
That represents a change of down 95.6% over ten years.
Over the whole period, monthly minimum wage in Venezuela peaked at 40.00 million in 2020 and was at its lowest, 32, in 1995.
That places Venezuela 168th out of 173 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Monthly minimum wage (Local currency) in Venezuela, year by year
| Year | Value | Change |
|---|---|---|
| 1995 | 32 | — |
| 1996 | 53 | +65.6% |
| 1997 | 75 | +41.5% |
| 1998 | 100 | +33.3% |
| 1999 | 120 | +20.0% |
| 2000 | 144 | +20.0% |
| 2001 | 158 | +9.7% |
| 2002 | 190 | +20.3% |
| 2003 | 247 | +30.0% |
| 2004 | 321 | +30.0% |
| 2005 | 405 | +26.2% |
| 2006 | 512 | +26.4% |
| 2007 | 615 | +20.1% |
| 2008 | 799 | +29.9% |
| 2009 | 968 | +21.2% |
| 2010 | 1,224 | +26.4% |
| 2011 | 1,548 | +26.5% |
| 2012 | 2,048 | +32.3% |
| 2013 | 2,973 | +45.2% |
| 2018 | 450,000 | +15036.2% |
| 2019 | 11.25 million | +2400.0% |
| 2020 | 40.00 million | +255.6% |
| 2021 | 7.00 million | -82.5% |
| 2022 | 130 | -100.0% |
| 2023 | 130 | +0.0% |
| 2024 | 130 | +0.0% |
Venezuela compared with similar countries
- Venezuela's 130 is below the median for lower middle income countries, which is 12,004, 1% of the median. (42 countries reporting)
- Venezuela's 130 is below the median for Latin America & Caribbean, which is 2,300, 6% of the median. (32 countries reporting)
Biggest year-on-year movements
Years where Monthly minimum wage (Local currency) in Venezuela changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2018 | +15036.2% | 2,973 | 450,000 |
| 2019 | +2400.0% | 450,000 | 11.25 million |
| 2020 | +255.6% | 11.25 million | 40.00 million |
| 2022 | -100.0% | 7.00 million | 130 |
| 2021 | -82.5% | 40.00 million | 7.00 million |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 76 | 32 | 120 | 5 |
| 2000s | 435.9 | 144 | 968 | 10 |
| 2010s | 1.95 million | 1,224 | 11.25 million | 6 |
| 2020s | 9.40 million | 130 | 40.00 million | 5 |
Countries ranked near Venezuela
More work & labour data for Venezuela
- Persons outside the labour force (ILO modelled estimates) 10,601 (2027)
- Labour force participation rate (ILO modelled estimates) 51.65 (2027)
- Labour force (ILO modelled estimates) 11,326 (2027)
- Unemployment rate (ILO modelled estimates) 5.73 (2027)
- Labour dependency ratio 1.69 (2027)
- Output per worker, GDP constant 2021 international $ at PPP 30,625 (2027)
- Output per worker, GDP constant 2015 US $ 10,899 (2027)
- Employment-to-population ratio (ILO modelled estimates) 48.69 (2027)
- Persons outside the labour force (ILO modelled estimates) (15+) 1.43 % change on previous year (2027)
- Labour force (ILO modelled estimates) (15+), annual growth rate 0.9762 % change on previous year (2027)
Frequently asked questions
- What is monthly minimum wage in Venezuela?
- Monthly minimum wage in Venezuela was 130 in 2024, according to International Labour Organization.
- What is the highest monthly minimum wage recorded in Venezuela?
- The highest recorded value was 40.00 million in 2020.
- What is the lowest monthly minimum wage recorded in Venezuela?
- The lowest recorded value was 32 in 1995.
- How does Venezuela rank for monthly minimum wage?
- Venezuela ranks 168th out of 173 countries with data for 2024.
- Is monthly minimum wage rising or falling in Venezuela?
- Over the last ten years it is down 95.6%. The long-run trend across the full record is volatile.
- Where does this Venezuela 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 — 26 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.