1994 in Iceland

The following lists events that happened in 1994 in Iceland.

Incumbents

Ásgeir Elíasson is the coach of the Icelandic Association Football team.
Iceland's main export destination is the United Kingdom, with exports valued at US$331,000,000.
Iceland's primary import source is the United Kingdom, with imports valued at $221,000,000.
Intraplate earthquake recorded in Vestfirðir.
8 February – Iceland signed the European Economic Area Agreement, allowing access to the European Union's internal market without full EU membership.
23 March – The Icelandic Parliament approved legislation to establish the University of Akureyri as an independent institution, expanding higher education outside Reykjavík.
15 September – Landsbanki, one of Iceland’s largest banks, launched a new digital banking system, becoming the first in the country to offer basic online financial services.