FLAG OF PAPUA NEW GUINEA
The flag of Papua New Guinea was officially accepted in the month of June 24, 1971. The flag is separated into two diagonal halves from the top end of the hoist side to the bottom end of the fly side. The topmost divide is colored in red with a yellow colored Kumul bird placed within the flag that is known as the Bird of Paradise. The other half is colored with a black background comprised of five stars, which denotes the Southern Cross, which signifies country's historical tie-ups with the South Pacific nations. These colors of black, yellow and red are the local native colors that are close to the heart of the people.
ECONOMY OF PAPUA NEW GUINEA
Papua New Guinea is opulent with natural resources, like copper, oil and gold, which support the export revenue of the region. The natives resort to agriculture, which sustains 85% of the inhabitants residing within the region.
The government aimed at stabilizing the monetary system, privatized the public enterprise and retained the peace and integrity in the area of Bougainville, bringing steadiness in the national budget. The government even secured financial assistance from international market along with receiving aid from the overseas.
Papua New Guinea is famous for producing and exporting of products based on agriculture, timber, and fish products. The province is known for holding the largest yam market within the Asian continent.
Papua New Guinea economy relies on the import of manufactured items. The industrial sector except the mining sector add to the revenue income within the territory pertaining to about 9% of GDP. The Small-scale industries thriving within the locality are known to manufacture beer, soap, clothing, paper products, concrete products, matches, ice cream, canned meat, furniture, fruit juices, plywood, and paint.
The agricultural production of the area includes sweet potatoes, coffee, coconuts, palm kernels, tea, rubber, fruit, vegetables, poultry, cocoa, and pork.