Minimum Wages in Colombia increased to 1423500 COP/Month in 2025 from 1300000 COP/Month in 2024. This dataset provides - Colombia Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The minimum wage per month guaranteed by law in Colombia was forecasted to increase by approximately 9.5 percent between 2024 and 2025, reaching 1.42 million Colombian pesos. In that same line, the inflation rate in the country reached 6.6 percent during 2024.

Earnings: Average: National: Others: Employees data was reported at 996,847.000 COP in 2021. This records an increase from the previous number of 918,334.000 COP for 2020. Earnings: Average: National: Others: Employees data is updated yearly, averaging 927,799.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 996,847.000 COP in 2021 and a record low of 918,334.000 COP in 2020. Earnings: Average: National: Others: Employees data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Earnings: Average: 23 Cities: AE: Employees data was reported at 886,506.000 COP in 2021. This records a decrease from the previous number of 917,150.000 COP for 2020. Earnings: Average: 23 Cities: AE: Employees data is updated yearly, averaging 886,506.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 917,150.000 COP in 2020 and a record low of 823,548.000 COP in 2019. Earnings: Average: 23 Cities: AE: Employees data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Costa Rica is the country with the highest minimum monthly wage in Latin America. According to the minimum salary established by law as of January 2025, workers in the Central American country enjoy a basic monthly wage of over 726 U.S. dollars, an increase of 2.37 percent compared to the previous year. They also earn over 200 U.S. dollars more than the second place, Uruguay. On the other side of the spectrum is Venezuela, where employees are only guaranteed by law a minimum salary of 130 bolívares or little more than 2.50 dollars per month. Can Latin Americans survive on a minimum wage? Even if most countries in Latin America have instated laws to guarantee citizens a basic income, these minimum standards are often not enough to meet household needs. For instance, it was estimated that almost 25 million people in Mexico lacked basic housing services. Salary levels also vary greatly among Latin American economies. In 2020, the average net monthly salary in Mexico was barely higher than Chile's minimum wage in 2021. What can a minimum wage afford in Latin America? Latin American real wages have generally risen in the past decade. However, consumers in this region still struggle to afford non-basic goods, such as tech products. Recent estimates reveal that, in order to buy an iPhone, Brazilian residents would have to work at least two months to be able to pay for it. A gaming console, on the other hand, could easily cost a Latin American worker several minimum wages.

Earnings: Average: 23 Cities: Transport & Storage: Employees data was reported at 1,267,908.000 COP in 2021. This records a decrease from the previous number of 1,271,729.000 COP for 2020. Earnings: Average: 23 Cities: Transport & Storage: Employees data is updated yearly, averaging 1,271,729.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 1,286,269.000 COP in 2019 and a record low of 1,267,908.000 COP in 2021. Earnings: Average: 23 Cities: Transport & Storage: Employees data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Earnings: Average: 13 Cities: PA: Employees data was reported at 2,350,216.000 COP in 2021. This records an increase from the previous number of 2,234,810.000 COP for 2020. Earnings: Average: 13 Cities: PA: Employees data is updated yearly, averaging 2,234,810.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 2,350,216.000 COP in 2021 and a record low of 2,105,308.000 COP in 2019. Earnings: Average: 13 Cities: PA: Employees data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Earnings: Average: 23 Cities: Accommodation & Food Services: Employees data was reported at 872,531.000 COP in 2021. This records an increase from the previous number of 759,165.000 COP for 2020. Earnings: Average: 23 Cities: Accommodation & Food Services: Employees data is updated yearly, averaging 817,584.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 872,531.000 COP in 2021 and a record low of 759,165.000 COP in 2020. Earnings: Average: 23 Cities: Accommodation & Food Services: Employees data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Earnings: Average: 23 Cities: Others data was reported at 1,534,130.000 COP in 2021. This records an increase from the previous number of 1,489,578.000 COP for 2020. Earnings: Average: 23 Cities: Others data is updated yearly, averaging 1,534,130.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 1,916,669.000 COP in 2019 and a record low of 1,489,578.000 COP in 2020. Earnings: Average: 23 Cities: Others data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Earnings: Average: 13 Cities: Construction data was reported at 1,099,948.000 COP in 2021. This records an increase from the previous number of 1,011,520.000 COP for 2020. Earnings: Average: 13 Cities: Construction data is updated yearly, averaging 1,099,948.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 1,166,676.000 COP in 2019 and a record low of 1,011,520.000 COP in 2020. Earnings: Average: 13 Cities: Construction data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Earnings: Average: 13 Cities: Public Administration & Defense, Education & Human Health Care (PA) data was reported at 2,319,884.000 COP in 2021. This records an increase from the previous number of 2,179,161.000 COP for 2020. Earnings: Average: 13 Cities: Public Administration & Defense, Education & Human Health Care (PA) data is updated yearly, averaging 2,179,161.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 2,319,884.000 COP in 2021 and a record low of 2,094,972.000 COP in 2019. Earnings: Average: 13 Cities: Public Administration & Defense, Education & Human Health Care (PA) data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Earnings: Average: 13 Cities: Independent data was reported at 1,042,868.000 COP in 2021. This records an increase from the previous number of 864,222.000 COP for 2020. Earnings: Average: 13 Cities: Independent data is updated yearly, averaging 1,042,868.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 1,085,687.000 COP in 2019 and a record low of 864,222.000 COP in 2020. Earnings: Average: 13 Cities: Independent data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

According to a recent study, Colombia had the lowest monthly cost of living in Latin America with 546 U.S. dollars needed for basic living. In contrast, four countries had a cost of living above one thousand dollars, Costa Rica, Chile, Panama and Uruguay. In 2022, the highest minimum wage in the region was recorded by Ecuador with 425 dollars per month.

Can Latin Americans survive on a minimum wage? Even if most countries in Latin America have instated laws to guarantee citizens a basic income, these minimum standards are often not enough to meet household needs. For instance, it was estimated that almost 22 million people in Mexico lacked basic housing services. Salary levels also vary greatly among Latin American economies. In 2022, the average net monthly salary in Brazil was lower than Ecuador's minimum wage.

What can a minimum wage afford in Latin America? Latin American real wages have generally risen in the past decade. However, consumers in this region still struggle to afford non-basic goods, such as tech products. Recent estimates reveal that, in order to buy an iPhone, Brazilian residents would have to work more than two months to be able to pay for it. A gaming console, on the other hand, could easily cost a Latin American worker several minimum wages.

In 2018, it was estimated that Congress members in Chile had one of the highest monthly salaries in Latin America. Each member of the Chilean Chamber of Deputies, the National Congress' lower chamber, received a gross monthly income of more than 23,000 U.S. dollars. Mexico came in second among the countries shown in this graph, with an income of over 20,600 dollars per month. The regional average stood at around 10,200 dollars.

In the fourth quarter of 2018, the average monthly pay TV revenue per connection in Colombia amounted to ** thousand Colombian pesos. In total, the pay TV industry had a revenue of *** billion Colombian pesos in 2018.

Earnings: Average: National: Transport & Storage data was reported at 897,618.000 COP in 2021. This records an increase from the previous number of 832,332.000 COP for 2020. Earnings: Average: National: Transport & Storage data is updated yearly, averaging 897,618.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 964,608.000 COP in 2019 and a record low of 832,332.000 COP in 2020. Earnings: Average: National: Transport & Storage data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Luis Lacalle Pou, president of Uruguay since 2020, had by far the highest gross salary per month across a selection of presidents in Latin America and the Caribbean. It is worth noting that Uruguay has one of the highest average salaries in the region. He was followed by the Colombian president, Iván Duque, who, as of June 2022, had a gross monthly salary of ***** U.S. dollars.

Earnings: Average: National: Artistic Activities, Entertainment, Recreation & Other Service Activities (AE) data was reported at 717,574.000 COP in 2021. This records an increase from the previous number of 638,837.000 COP for 2020. Earnings: Average: National: Artistic Activities, Entertainment, Recreation & Other Service Activities (AE) data is updated yearly, averaging 660,884.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 717,574.000 COP in 2021 and a record low of 638,837.000 COP in 2020. Earnings: Average: National: Artistic Activities, Entertainment, Recreation & Other Service Activities (AE) data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.

Colombia's gasoline index fell to less than *** liters in 2024. That year, an average monthly net salary afforded drivers the ability to purchase *** liters of gasoline. This was the lowest figure in the period of consideration.

Earnings: Average: National: Information & Communications: Independent data was reported at 1,386,035.000 COP in 2021. This records an increase from the previous number of 1,378,536.000 COP for 2020. Earnings: Average: National: Information & Communications: Independent data is updated yearly, averaging 1,378,536.000 COP from Dec 2019 (Median) to 2021, with 3 observations. The data reached an all-time high of 1,386,035.000 COP in 2021 and a record low of 1,229,750.000 COP in 2019. Earnings: Average: National: Information & Communications: Independent data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.G070: Average Monthly Earnings.