Venezuela

Compared with South Korea, using real observed prices.

Baseline: South Korea = 1×

Venezuela vs

South Korea

Overall verdict

Venezuela is about 0.17× South Korea.

Average across 3 categories, 4 items with data

The shape of prices (vs South Korea = 1×)

How to read this

The centre line is South Korea. A bar running right means Venezuela is pricier; running left means cheaper. The thin bar behind shows the range from the cheapest to the priciest item in that category.

← Cheaper than

South Korea South Korea = 1×

Venezuela is pricier →

🍔 Food & Dining 1 item

×1.08
⚡ Utilities 1 item

×0.54
⛽ Transport 2 items

×0.01

Thin bar shows the range (cheapest to priciest item in the category)

In Venezuela, Big Mac costs 1.1× what it does in South Korea — but Diesel 1L costs only 0.0×. What is expensive here is labour, not the goods that carry a world price.

Real prices. Real sources. Real dates.

Big Mac 1 burger ×1.08

Venezuela ₩5,945 VES 1,370

South Korea ₩5,500 KRW 5,500

Observed 2026-01-01 · The Economist Big Mac Index
Electricity 1kWh (household) 1 kWh ×0.54

Venezuela ₩104 USD 0.069

South Korea ₩191 USD 0.127

Observed 2026-04-01 · GlobalPetrolPrices.com
Gasoline 1L 1 L ×0.02

Venezuela ₩55 USD 0.035

South Korea ₩2,223 USD 1.427

Observed 2026-07-20 · GlobalPetrolPrices.com
Diesel 1L 1 L ×0.00

Venezuela ₩6 USD 0.004

South Korea ₩2,205 USD 1.415

Observed 2026-07-20 · GlobalPetrolPrices.com