Netherlands' natural gas fields.

The Netherlands declared independence from Spain in 1579, and by the 1600’s it had the world’s first modern economy. The Netherlands was one of the top commercial and seafaring powers of the time. It had also established colonies around the world. The small nation is located in Western Europe along the North Sea. The 451-kilometer coastline gives the country easy access to ocean trade routes; the country is often called the gateway to Europe. The Netherlands also shares borders with Germany and Belgium. Three main rivers—the Rhine, Schelde, and Meuse—divide the country. Most of the southwestern region of the Netherlands is part of a large river delta. Twenty-seven percent of the country is below sea level. An extensive set of dikes protects the Netherlands from flooding and erosion. The Netherlands’ economy is the sixteenth largest in the world. The nation was ranked ninth in overall global competitiveness in 2007. The average annual income that year was $31,700. The country was a founding member of the European Union, joining in 1952.