In the timeframe presented, there has been a general uptick in the average monthly salary for Venezuelan employees, peaking at ******* USD in July 2024.

Minimum Wages in Venezuela remained unchanged at 13000000 VEF/Month in 2025 from 13000000 VEF/Month in 2024. This dataset provides - Venezuela Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Monthly and long-term Venezuela GDP Per Capita data: historical series and analyst forecasts curated by FocusEconomics.

Venezuela Central Government: Expenditure: Wages and Salaries data was reported at 3,458,650.872 VEF th in Sep 2010. This records an increase from the previous number of 2,055,063.834 VEF th for Jun 2010. Venezuela Central Government: Expenditure: Wages and Salaries data is updated quarterly, averaging 526,396.593 VEF th from Mar 1998 (Median) to Sep 2010, with 51 observations. The data reached an all-time high of 3,458,650.872 VEF th in Sep 2010 and a record low of 19,833.886 VEF th in Mar 2003. Venezuela Central Government: Expenditure: Wages and Salaries data remains active status in CEIC and is reported by Ministry of Economy, Finance and Public Banking. The data is categorized under Global Database’s Venezuela – Table VE.F005: Central Government: Expenditure: Quarterly.

Graph and download economic data for Bank's Cost to Income Ratio for Bolivarian Republic of Venezuela (DDEI07VEA156NWDB) from 2000 to 2021 about Venezuela, ratio, expenditures, income, banks, and depository institutions.

Uruguay was the Latin American country with the highest average monthly salary as of 2024, with a net value of around ***** U.S. dollars per month, followed by Costa Rica, with *** U.S. dollars per month. Employment development areas in Latin America Following the recuperation in this sector after the job losses endured throughout the COVID-19 pandemic, the unemployment rate persists in its endeavor to stabilize. Informal employment remains as the predominant actor across most Latin American countries, serving as a primary avenue for economic sustenance. Notably, the construction sector has experienced substantial growth, outpacing other relevant industries like tourism and hospitality. Poverty Throughout the past two decades, poverty levels in Latin America remain unchanged. Honduras takes the lead as the country bearing the highest poverty rate, with nearly half of its population dwelling in these circumstances. Across the region, the prevalent delineation is that of individuals classified within the non-extreme and lower-middle poverty strata, characterized by modest income levels.

Venezuela Balance of Payments: Current Account: Income: Compensation of Employees data was reported at -27.000 USD mn in 2014. This records a decrease from the previous number of -24.000 USD mn for 2013. Venezuela Balance of Payments: Current Account: Income: Compensation of Employees data is updated yearly, averaging -10.000 USD mn from Dec 1997 (Median) to 2014, with 18 observations. The data reached an all-time high of -4.000 USD mn in 2002 and a record low of -27.000 USD mn in 2014. Venezuela Balance of Payments: Current Account: Income: Compensation of Employees data remains active status in CEIC and is reported by Central Bank of Venezuela. The data is categorized under Global Database’s Venezuela – Table VE.JB002: Balance of Payments: Annual.

Adjusted net national income per capita (annual % growth) in Venezuela was reported at --18.65 % in 2014, according to the World Bank collection of development indicators, compiled from officially recognized sources. Venezuela - Adjusted net national income per capita (annual % growth) - actual values, historical data, forecasts and projections were sourced from the World Bank on November of 2025.

Venezuela Internal Income incl Compensation to Employees & Operating Surplus data was reported at 116,159,909.000 VEF th in 2003. This records an increase from the previous number of 93,633,073.000 VEF th for 2002. Venezuela Internal Income incl Compensation to Employees & Operating Surplus data is updated yearly, averaging 93,633,073.000 VEF th from Dec 2001 (Median) to 2003, with 3 observations. The data reached an all-time high of 116,159,909.000 VEF th in 2003 and a record low of 77,357,700.000 VEF th in 2001. Venezuela Internal Income incl Compensation to Employees & Operating Surplus data remains active status in CEIC and is reported by Central Bank of Venezuela. The data is categorized under Global Database’s Venezuela – Table VE.A010: SNA 1968: GDP: National Income.

In 2019, Venezuela’s estimated gross domestic product (GDP) per capita dropped to 2,624.41 U.S. dollars from 3,529.72 U.S. dollars the year before. the country's GDP has been on a continuous downswing for about a decade now - in 2010, it amounted to more than 11,000 U.S. dollars, and seemed to recover from a sudden slump again in 2016, before decreasing rapidly ever since. GDP per capita is a measurement of a country’s economic output that accounts for its number of people, thus making it a good measurement of a country’s standard of living. A time of economic hardships Currently, a major economic crisis is shaking Venezuela, resulting in hyperinflation, food and water shortages, and unemployment. Venezuela’s inflation rate has skyrocketed to over 900,000 percent in 2018, and the economy is suffering, with the Venezuelan GDP growth decreasing substantially each year since 2014. A population affected by instability In response to the economic and political climate, many are leaving the country for places such as Colombia, Peru, and Ecuador, with hopes for more stability and better economic prospects. Due in part to this, Venezuela’s population growth has decreased consistently over the last five years: In 2019, the country’s population was around 28 million inhabitants - a figure that is estimated to decrease further in the future.

Venezuela Central Government: Revenue: Current: Non Tax data was reported at 168,019,592.400 VEF th in 2012. This records an increase from the previous number of 135,197,235.642 VEF th for 2011. Venezuela Central Government: Revenue: Current: Non Tax data is updated yearly, averaging 37,336,533.918 VEF th from Dec 1998 (Median) to 2012, with 15 observations. The data reached an all-time high of 168,019,592.400 VEF th in 2012 and a record low of 2,622,761.403 VEF th in 1998. Venezuela Central Government: Revenue: Current: Non Tax data remains active status in CEIC and is reported by Ministry of Economy, Finance and Public Banking. The data is categorized under Global Database’s Venezuela – Table VE.F002: Central Government: Revenue and Expenditure: Annual.

Graph and download economic data for Purchasing Power Parity Converted Gross Domestic Income (adjusted for Terms of Trade changes) for Venezuela (RGDPTTVEA625NUPN) from 1950 to 2010 about Venezuela, adjusted, PPP, trade, gross, domestic, and income.

Actual value and historical data chart for Venezuela Adjusted Net National Income Per Capita Current Us$

Actual value and historical data chart for Venezuela Adjusted Net National Income Annual Percent Growth

Graph and download economic data for Bank's Non-Interest Income to Total Income for Bolivarian Republic of Venezuela (DDEI03VEA156NWDB) from 2000 to 2021 about Venezuela, income, banks, and depository institutions.

Venezuela VE: GDP: Net Primary Income from Abroad data was reported at -257,099.413 VEF mn in 2016. This records a decrease from the previous number of -181,039.960 VEF mn for 2015. Venezuela VE: GDP: Net Primary Income from Abroad data is updated yearly, averaging -3.270 VEF mn from Dec 1950 (Median) to 2016, with 67 observations. The data reached an all-time high of 4,292.498 VEF mn in 2007 and a record low of -257,099.413 VEF mn in 2016. Venezuela VE: GDP: Net Primary Income from Abroad data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Venezuela – Table VE.IMF.IFS: Gross Domestic Product: by Expenditure: Annual.

Venezuela Public Sector: Total Expenditure: Current: Operating Expenditure: Wages and Salaries data was reported at 13,392,398.373 VEF th in 2011. This records an increase from the previous number of 4,903,960.174 VEF th for 2010. Venezuela Public Sector: Total Expenditure: Current: Operating Expenditure: Wages and Salaries data is updated yearly, averaging 7,621,588.055 VEF th from Dec 1998 (Median) to 2011, with 14 observations. The data reached an all-time high of 37,476,088.858 VEF th in 2009 and a record low of 2,124,627.592 VEF th in 1998. Venezuela Public Sector: Total Expenditure: Current: Operating Expenditure: Wages and Salaries data remains active status in CEIC and is reported by Ministry of Economy, Finance and Public Banking. The data is categorized under Global Database’s Venezuela – Table VE.F007: Public Sector Financing.

In 2024, the gross domestic product (GDP) per capita in Venezuela was estimated at 4,510 U.S. dollars. From 1980 to 2024, the figure dropped by 160 U.S. dollars, though the decline followed an uneven course rather than a steady trajectory. Between 2024 and 2026, the GDP per capita will decrease by 1,540 U.S. dollars.This indicator describes the gross domestic product per capita at current prices. Thereby, the gross domestic product was first converted from national currency to U.S. dollars at current exchange rates and then divided by the total population. The gross domestic product is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).

Key information about Venezuela Gross Savings Rate

• Venezuela Gross Savings Rate was measured at -17.8% in Dec 2017, compared with -17.8% in the previous year.
• Venezuela Gross Savings Rate is updated yearly, with data available from Dec 1970 to Dec 2017, and an average rate of -17.8%.
• The data reached an all-time high of -17.8% in Dec 1974 and a record low of -17.8% in Dec 2017.
• CEIC calculates Gross National Savings Rate from annual Gross National Savings and annual Gross National Income. Gross National Savings is calculated as Gross National Disposable Income less Final Consumption Expenditure. The Central Bank of Venezuela provides Gross National Income, Gross National Disposable Income and Final Consumption Expenditure in local currency. Gross National Savings Rate prior to 1997 is sourced from the World Bank.
• In the latest reports, Venezuela GDP contracted 26.8% YoY in Mar 2019.
• Venezuela Nominal GDP reached 20,139,533.8 USD mn in Dec 2017. Its GDP deflator (implicit price deflator) increased 748.1% in Dec 2017.
• Venezuela GDP Per Capita reached 640,750.5 USD in Dec 2017.