The Iberian Peninsula , also known as Iberia, is located in the southwest corner of Europe. The peninsula is principally divided between Portugal and Spain, comprising most of their territory, as well as Andorra, small areas of France, and the British overseas territory of Gibraltar. With an area of approximately 596,740 square kilometres (230,400 sq mi)), it is both the second largest European peninsula by area, after the Scandinavian Peninsula, and by population, after the Balkan Peninsula.