During 1994, tropical cyclones formed within seven different tropical cyclone basins, located within various parts of the Atlantic, Pacific and Indian Oceans. During the year, a total of 124 systems formed with 91 of these developing further and were named by the responsible warning centre. The strongest tropical cyclone of the year was Cyclone Geralda, which was estimated to have a minimum barometric pressure of 905 hPa (26.72 inHg). The deadliest tropical cyclone was Typhoon Fred, which caused 1,248 fatalities in China, while the costliest was Tropical Storm Sharon, which caused an estimated $5.27 billion USD in damage after striking Hong Kong, China and the Philippines. Five Category 5 tropical cyclones formed in 1994.