Iceland is considered a microstate by some, because of its small population of 320,060 as of April 2012.[7] It is a member of the European Economic Area (EEA) through the European Free Trade Association (EFTA), and is recognized as an official candidate for accession to the Union, though the negotiations have been suspended. If Iceland accedes to become an EU member state, it would enter as the smallest EU state measured by population, although twelfth largest by geographical size.