20 Countries with the Lowest Average Salaries in 2023

Kate Sukhanova

from Techreport on 2023-09-15 10:03 (#6ESAH)

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It's no surprise that the world's poorest countries also have some of the lowest salaries. The low earnings in these countries reflect their underdeveloped economies and low quality of life.

That's not to say, though, that the situation in such countries is entirely bleak. Many of them offer beautiful landscapes for visitors and tourists, and for many of them, tourism is one of the biggest sources of revenue.

Given the low wages in these countries, we don't recommend taking up a job there - consider our list of countries with the highest salaries instead... However, for those of you who are curious to find out more about them, we've put together this guide to the 20 countries with the lowest average salaries.

Keep in mind that some of the poorest countries in the world don't share information on wages. Therefore, this list includes only those countries that do.

Countries With the Lowest Average Salaries in 2023

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20-1120. Mongolia

Source: Take-Profit

Average monthly wages: $643

We open our list with the Asian country of Mongolia. It's the least densely populated country in the world, with over a third of its economy based on the agricultural sector.

Mongolia's minimum wage in 2023 is500,000 Mongolian Tugrik, or $145. However, its average monthly salary amounts to 1.8 million MNT or $643 - the highest USD figure on our list.

19. Azerbaijan

Source: Take-Profit

Average monthly wages: $542

The South Caucasus country of Azerbaijanis nineteenth on our list. Much of its economy centers around tourism, agriculture, and the transport sector.

The country's average wages have been on the rise, increasing from AZN 865 in February 2023 to AZN 922 ($542) in July 2023. Azerbaijan's minimum wage in 2023 is $203 per month.

18. Ecuador

Source: Take-Profit

Average monthly wages: $525

Average monthly wages in Ecuador are similar to those in Azerbaijan, at$525. They've been on the rise since 2019, and the 2023 figure amounts to an almost 6%increase from 2022.

However, the minimum wage in Ecuador in 2023 is $450 per month- almost twice as high as in Azerbaijan. It's also higher than the minimum wage of the other South American countries listed here.

17. Peru

Source: Take-Profit

Average monthly wages: $525

Like its South American neighbor, Ecuador, Peru has an average monthly wage of $525(1937 PEN). However, this figure is low for a country in the top 50 largest economies in the world. Wages have been growing very slowly in the country in 2023, in fact, only having grown by 137 PEN ($37) from January.

The Peruvian minimum wage is also low at less than $280 per monthin 2023. It's been stagnant since H2 2022.

16. Tanzania

Average monthly wages: $505

This East African country hasthe highest average salary of the countries on this list located on the African continent. Tanzania is the world's most populous country fully south of the equator, but the vast majority of its population lives below the poverty line. The average monthly wage in Tanzania is 1.27 million TZS, or around $505.

Tanzania's mandated minimum wages vary across sectors. In 2023, the highest minimum wagein Tanzania is $236, paid in the financial and energy services industries.

15. Botswana

Source: Take-Profit

Average monthly wages: $500

Compared to Tanzania, Botswana is a very sparsely populated country. However, its wages are even lower than Tanzania's. As of the beginning of 2023, its average monthly wages were BWP 6,803 or just under $500.

As for Botswana's minimum wage, it's a little over $0.50(BWP 7.31) per hour, or BWP 1,410 per month. This amounts to just over $103 - lower than the minimum wages in most of Tanzania's industries.

14. Thailand

Source: Take-Profit

Average monthly wages: $431

The first Southeast Asian country on our list is Thailand. The country is considered an emerging market and is the second-largest economy in the region.

Despite this, over 6% of the Thai populationlives below the poverty line. Although the minimum wage in Thailand has been growing over the last few years, reaching $207 per month (THB 353 per day) in 2023, its average monthly wage in 2023 is only $431 or THB 15,412.

13. Burundi

Source: Salary Explorer

Average monthly wages: $420

The world's poorest nation - based on GDP per capita - takes the unlucky thirteenth spot on our list. Burundi's economy is mostly agricultural, with 80% of the population living in poverty. Its average monthly salary is BIF 1.19 million, which is the equivalent of $420.

Burundi doesn't have a real minimum wage requirement in place because its minimum wage of BIF 106-140 ($0.05) per day hasn't been changed since 1988.

12. Kyrgyzstan

Source: Take-Profit

Average monthly wages: $400 per month

This Central Asian country is the second-poorest in the region, with over 22% of the population living below the poverty line. It's no surprise since Kyrgyzstan's minimum wage of $26 per month (KGS 2,337) is one of the lowest on our list.

When it comes to Kyrgyzstan's average monthly wages, they've seen a slight growth over the last few months, but it currently stands at KGS 35,308 ($400).

11. Vietnam

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Source: Statista

Average monthly wages: $330

Closing the bottom ten of our list is Vietnam. Unlike many other countries on our list, however, Vietnam's poverty rates are low, at less than 5%. Moreover, its minimum wage rates for 2023are on par with its neighbor Thailand, equaling about $194 or VND 4.6 million.

When it comes to average monthly wages, Vietnam has seen some growth over the last few years. Statista tells us that as of Q1 2023, average monthly wages are VND 7.2 million, or $330.

10-6

The following ten countries have the lowest salaries in the world. They're located in Asia, Africa, and Central and South America.

10. Nicaragua

Source: Take-Profit

Average monthly wages: $325

The largest country in Central America is also one of the poorest countries in the Western Hemisphere. Almosthalf of the Nicaraguan population lives in poverty. And given the country's minimum wage of NIO 5,200 ($142) for its biggest sector - agriculture - that's hardly surprising.

As of 2023, the average monthly salary in Nicaragua is $325, or NIO 11,870. Perhaps surprisingly, that's the equivalent of the country's minimum wage in the construction industry.

9. Uzbekistan

Source: Take-Profit

Average monthly wages: $320 (2022)

Uzbekistan is another former Soviet republic. It's very new to the market economy, and almost 15% of its population lives below the poverty line.

The minimum wage in Uzbekistan is UZS 980,000, or $80. As of 2022, its average monthly salary was $320, which puts Uzbekistan in the ninth spot on our list.

8. Angola

Average monthly wages:$316

Despite Angola's rich resources, the country has major economic and social disparities, resulting in high poverty rates. As you can see from the chart, its 2023 national minimum wage is the equivalent of $38.

Average monthly wages amount to AOA 262,000, or $316. However, due to the region's economic disparities, a small percentage of the population makes up to $1,400 per month.

7. Zambia

Source: Salary Explorer

Average monthly wages: $285

Another African nation on our list is Zambia. Despite being a large exporter of copper, it remains one of the world's poorest nations, with over half the population living in poverty. Like Burundi, Zambia hasn't updated its minimum wage rates in a long time - since 2018, to be precise.

In 2023, Zambia's average monthly salary isZMK 6,020, or $285.

6. India

Source: Statista

Average monthly wages: $171-$253 (2022)

The world's most populous country is in the sixth spot on our list. And despite being one of the fastest-growing economies in the world, India still faces significant issues of poverty and inequality.

The minimum wages and average monthly wages in the country differ by state. For instance, the average wages in Uttar Pradesh in 2022 were INR 21,000, or $253, whereas the poorest province - Lakshadweep - had an average salary of INR 14,260 or $171.

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The five countries with the lowest average salaries in the world have underdeveloped economies and some of the highest levels of poverty.

5. Bangladesh

Source: Salary Explorer

Average monthly wages: $235

Number five on our list is the eighth-most-populous country in the world, which has come far in recent years. Nevertheless, Bangladesh still has some of the lowest wages in the world. The average monthly salaryin Bangladesh is BDT 26,100, or $235.

In 2022, the country's minimum wage was $73 per month- higher than some African countries listed but lower than many of its Asian neighbors.

4. Tajikistan

Source: Take-Profit

Average monthly wages: $202

The Asian country with the lowest average salary on the list is Tajikistan. It's the poorest country in Central Asia, although its poverty rate has fallen to 13%.

As of 2023, the average monthly salary in Tajikistan is $202, or TJS 2,227. The minimum wage announced in 2022 is TJS 600, which is the equivalent of $55.

3. Senegal

Source: Take-Profit

Average monthly wages: $175

Senegal is one of the three countries on our list where the average monthly wage is below $200. As of 2023, it is CFA 106,811 or $175, and over a third of its population lives below the poverty line. Despite that, Senegal is considered one of the more stable West African countries.

The minimum wage in Senegal's agriculture sector is CFA 213, or $0.30 per hour. Other sectors' minimum wages are higher, at CFA 334, or $0.50 per hour.

2. Malawi

Source: Salary Explorer

Average monthly wages: $150

The country with the second-lowest average salary on our list is Malawi. Its average monthly salary is on par with Senegal's, amounting to MWK 165,000, or $150. Such low salaries are a testament to the fact that Malawi has the fourth-highest percentage of its population living in poverty worldwide.

Malawi's minimum wage was last changed in 2021. It stands at MWK 50,000 or $45 per month.

1. Cuba

Source: Take-Profit

Average monthly wages: $149 (2021)

The country with the lowest reported average salary in the world is Cuba, located in the Caribbean. As of 2021, its average monthly wages are at CUP 3,830 or $149.

Cuba's minimum wage, last amended in 2021, is CUP 2,100 or $75. The majority of its economy is state-controlled.

References

The post 20 Countries with the Lowest Average Salaries in 2023 appeared first on The Tech Report.

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