In 2003, the national minimum wage in Colombia remained fixed at €111.6 per month, that is 1,339 euros per year, taking into account 12 payments per year.
If we look at the minimum salary in Colombian pesos, which is the official currency in Colombia, we can see that, this year, it was 332,000 Colombian pesos and accordingly, the national minimum wage has been raised 23,000 Colombian pesos per month from the previous year, 7.44%. This increase is greater than the CPI of 2002 which was 7%, so workers have gained buying power in the last year.
If we look at the ranking of the national minimum wage that we publish, Colombia is in 38 nd place, so it is among the countries with the lowest minimum salary of the 72 of the list.
The National Minimum Wage (NMW) of a country is the minimum amount (lowest salary) per hour, per day, or per month that employers may legally pay to workers.
In the table that follows we show you the progression of the National Minimum Wage Colombia. You can see NMW in other countries in National Minimum Wage 2003 and see all the information about this country in Colombia economy.