Venezuela  Minimum Wage, Labor Law, and Employment Data Sheet Venezuela Minimum Wage Rate 2024

Appx. Yearly Minimum Wage
$7,310.00 USD
Rank by Min. Wage
26 / 197
Gross National Product
$95,023.00 USD

Venezuela has a government-mandated minimum wage, and no worker in Venezuela can be paid less then this mandatory minimum rate of pay. Employers in Venezuela who fail to pay the Minimum Wage may be subject to punishment by Venezuela's government.

What is the Venezuela Minimum Wage?

Venezuela's Minimum Wage is the lowest amount a worker can be legally paid for his work. Most countries have a nation-wide minimum wage that all workers must be paid.

Venezuala's minimum wage is 27,091 Venezuelan bolĂ­vares (BsF) per month,with a food bonus of 63,720 BsF for all workers. Venezuela's minimum wage was last changed in 1-Nov-2016.

How does Venezuela's minimum wage compare to the minimum wage in other countries?

Venezuela's yearly minimum wage is $7,310.00 in International Currency. International Currency is a measure of currency based on the value of the United States dollar in 2009. There are 26 countries with a higher Minimum Wage then Venezuela, and Venezuela is in the top 13 percent of all countries based on the yearly minimum wage rate.

Facts and statistics about Venezuela

Venezuela is a country located in the South America region with a population of 24,170,000 and an average life span of 73.1 years.

Local Name Venezuela
Gross National Product $95,023.00
Government Type Federal Republic
Current Leader Hugo Chávez Frías
Independence Year 1811
Continent & Region South America, South America
Surface Area 912,050 square kilometers
ISO 3166 Country Code VE

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