The economy of Venezuela is largely based on the petroleum sector and manufacturing. In, total trade amounted to 48. 1% of the country' s GDP. Exports accounted for 16.
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7% of GDP and petroleum products accounted for about 95% of those exports. Venezuela is the sixth largest member of OPEC by oil production. Since the 1920s, Venezuela has been a rentier state, offering oil as its main export. This is a list of official minimum wage rates of the 193 United Nations member states and former members of the United Nations, and also includes the following territories and states with limited recognition: Taiwan, Hong Kong, Northern Cyprus, Kosovo, and Palestine and other independent countries.
Some countries may have a very complicated minimum wage system; for example, India.