(CNN) -- Here's a look at what you need need to know about Cuba, a communist country located in the Caribbean Sea, approximately 90 miles south of Florida.
About Cuba: (from the CIA World Factbook)
Area: 110,860 sq km (slightly smaller than Pennsylvania)
Population: 11,047,251 (July 2014 est.)
Median age: 39.9 years
Ethnic Groups: white 64.1%, mulatto and mestizo 26.6%, black 9.3% (2012 est.)
GDP: $121 billion (2012 est.)
GDP per capita: $10,200 (2010 est.)
Unemployment: 4.3% (2013 est.)
Other Facts: Before the collapse of the Soviet Union in the early 1990s, Cuba was receiving subsidies worth $4-$6 billion a year.
The United States pays Cuba approximately $4,085 a year to lease the 45 square miles that the Guantánamo Bay Naval Station occupies. Cuba has not accepted the payment since 1959.
In 2013, the U.S. Coast Guard stopped approximately 1,357 Cuban migrants attempting to reach the U.S.
Timeline: 1492 - Explorer Christopher Columbus lands on the island of Cuba and claims it for Spain. Spain controls the island until 1898, making it a hub for the slave trade and the export of sugar and coffee.
1898 - The U.S. assists Cubans in winning independence from Spain during the Spanish-American War. The Treaty of Paris gives the U.S. temporary control of Cuba.
1902 - Cuba gains independence from the U.S.
1903 - The new Republic of Cuba leases 45 square miles of land in Guantánamo Bay to the U.S. for construction of a naval station. Building on the naval station begins that same year.
1952 - Former President Fulgencio Batista stages a coup with the support of the army, and assumes power.
July 26, 1953 - Fidel Castro and approximately 150 others attack the Moncada military barracks in Santiago de Cuba in an unsuccessful attempt to overthrow the Batista regime.
October 16, 1953 - Castro is sentenced to 15 years in prison.
May 15, 1955 - Castro and his brother, Raul, are released as part of a general amnesty for political prisoners.
December 2, 1956 - Eighty-two exiles land in Cuba, on a yacht named Granma. Most are killed immediately. The survivors, including the Castros, flee to the Sierra Maestra Mountains. During 1957-1958, they wage a guerrilla campaign from this base, which includes skirmishes with government troops and burning sugar crops.
January 1, 1959 - Batista is overthrown by Castro's forces.
1960 - Cuba nationalizes approximately $1 billion of U.S. owned property on the island. In response, the U.S. places a trade embargo on Cuba.
January 1961 - The U.S. and Cuba end diplomatic relations.
April 1961 - The U.S. backs Cuban exiles in an unsuccessful attempt to invade Cuba at the Bay of Pigs.
October 1962 - The U.S. discovers that the Soviet Union is building missile installations in Cuba. The standoff ends with the Soviet Union withdrawing the missiles and the U.S. promising not to invade Cuba.
1977 - The U.S. Interests Section in Havana is opened.
April-September 1980 - Fidel Castro allows anyone who wants to leave Cuba to freely depart from the port of Mariel, Cuba. Approximately 124,000 Cuban migrants enter the United States.
October 1983 - U.S. troops invade the Caribbean island of Grenada, after a group of military officers aligned with Cuba stage a coup.
1994 - The U.S. and Cuba sign an agreement designed to halt the flow of illegal aliens from Cuba to the U.S.
January 1998 - Pope John Paul II visits Cuba.
September 1998 - Ten people are arrested in Florida and charged with spying for the Cuban government. The criminal complaint alleges that the eight men and two women tried to infiltrate Cuban exile groups and U.S. military installations. Five of the defendants are later identified as Cuban intelligence officers Ruben Campa (aka Fernando Gonzalez), Rene Gonzalez, Gerardo Hernandez, Luis Medina (aka Ramon Labanino) and Antonio Guerrero.
1999 - U.S. President Bill Clinton eases travel restrictions to Cuba.
November 1999 - Five-year-old Elian Gonzalez is found in the water between Cuba and Florida, the only survivor of a group attempting to reach the U.S. by boat. A long custody battle between Gonzalez' father in Cuba and relatives in Florida strains relations between Cuba and the U.S. The standoff ends with U.S. federal agents forcibly removing the boy from his great-uncle's home. Gonzalez and his father return to Cuba in June 2000.
June 9, 2001- The five Cuban agents are convicted of spying against the United States. Additionally, Gerardo Hernandez is convicted of contributing to the deaths of four members of the anti-Castro group Brothers to the Rescue, shot down by Cuban fighter jets in 1996.
2002 - Former U.S. President Jimmy Carter visits Cuba, the first former or sitting president to visit the island since 1928.
August 2005 - The 11th Circuit Court of Appeals in Atlanta overturns the spying convictions of the Cuban Five. The ruling is reversed in August 2006.
July 31, 2006 - A statement read on Cuban TV announces that Fidel Castro is undergoing intestinal surgery and has provisionally handed over power to his younger brother,Raul.
February 19, 2008 - Due to ailing health, Fidel Castro announces his resignation as president in a letter published in the middle of the night in the online version of Cuba's state-run newspaper, Granma.
February 24, 2008 - Raul Castro is chosen by Cuba's National Assembly to be the country's new president.
December 2009 - American Alan Gross is jailed while working as a subcontractor on a U.S. Agency for International Development project aimed at spreading democracy. His actions are deemed illegal by Cuban authorities. He is accused of trying set up illegal Internet connections on the island. Gross says he was trying to help connect the Jewish community to the Internet and was not a threat to the government.
October 2011 - One of the Cuban Five, Rene Gonzalez, is released on probation after serving 13 years in prison.
February 24, 2013 - Raul Castro is re-elected to a second five-year term. Later during a nationally televised speech, Castro announces that he will step down from power in 2018 when his term is over.
February 2014 - Cuban Five member Ruben Campa (aka Fernando Gonzalez) is released from prison after serving more than 15 years.
December 17, 2014 - Cuba releases American contractor Alan Gross as a "humanitarian" gesture after five years in prison. As part of a deal between the United States and Cuba, the U.S. releases three Cuban intelligence agents convicted of espionage in 2001; in return, Cuba frees an unidentified U.S. intelligence source who has been jailed in Cuba for more than 20 years.
December 17, 2014 - U.S. President Barack Obama announces plans to normalize diplomatic relations with Cuba and ease economic restrictions on the nation, a policy shift he called the end of an "outdated approach" to U.S.-Cuban relations that, "for decades, has failed to advance our interests." Obama said the U.S. will move towards re-opening its embassy in the communist nation and allow some travel and trade that had been banned under a decades-long embargo instated during the Kennedy administration.