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Background Named in 1643 for the day of its discovery, the island was annexed and settlement began by the UK in 1888. Phosphate mining began in the 1890s. The UK transferred sovereignty to Australia in 1958. Almost two-thirds of the island has been declared a national park. Population 1,402 (July 2010 est.) Government type none (territory of Australia) Administrative divisions NA Independence Australia Day, 26 January (1788) International organization participation territorial flag; divided diagonally from upper hoist to lower fly; the upper triangle is green with a yellow image of the Golden Bosun Bird superimposed, the lower triangle is blue with the Southern Cross constellation, representing Australia, superimposed; a centered yellow disk displays a green map of the island Economy - overview Market value of publicly traded shares tourism, phosphate extraction (near depletion) Agriculture - products Industries Industrial production growth rate Electricity - production Internet country code 464 (2001)