Cost of living in Panama compared to Canada
Currency:
| Food | - 23% | |||
|---|---|---|---|---|
| Food in Panama is 23% cheaper than in Canada | ||||
| Panama | Canada | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 14 B/. (C$19) | C$23 | - 18% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 8 B/. (C$10) | C$13 | - 20% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.91 B/. (C$5.24) | C$8 | - 37% | |
| 1 liter (1 qt.) of whole fat milk | 1.63 B/. (C$2.18) | C$3.06 | - 29% | |
| 12 eggs, large | 2.85 B/. (C$3.83) | C$5.15 | - 26% | |
| 1 kg (2 lb.) of tomatoes | 2.07 B/. (C$2.78) | C$4.85 | - 43% | |
| 500 gr (16 oz.) of local cheese | 7 B/. (C$10) | C$10 | - 2% | |
| 1 kg (2 lb.) of apples | 2.55 B/. (C$3.42) | C$4.58 | - 25% | |
| 1 kg (2 lb.) of potatoes | 1.96 B/. (C$2.63) | C$3.03 | - 13% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.51 B/. (C$2.03) | C$3.46 | - 41% | |
| 1 bottle of red table wine, good quality | 13 B/. (C$18) | C$18 | - 2% | |
| 2 liters of coca-cola | 2.44 B/. (C$3.28) | C$2.62 | + 25% | |
| Bread for 2 people for 1 day | 1.61 B/. (C$2.16) | C$3.01 | - 28% | |
| Housing | - 35% | |||
| Housing in Panama is 35% cheaper than in Canada | ||||
| Panama | Canada | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,273 B/. (C$1,707) | C$2,798 | - 39% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 852 B/. (C$1,143) | C$2,236 | - 49% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 127 B/. (C$171) | C$219 | - 22% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 908 B/. (C$1,217) | C$1,955 | - 38% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 556 B/. (C$746) | C$1,560 | - 52% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 78 B/. (C$105) | C$133 | - 21% | |
| Internet 8 mbps (1 month) | 46 B/. (C$62) | C$70 | - 11% | |
| 40” flat screen tv | 340 B/. (C$456) | C$416 | + 10% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 106 B/. (C$142) | C$195 | - 27% | |
| Laundry detergent (3 l. ~ 100 oz.) | 8 B/. (C$11) | C$14 | - 19% | |
| Hourly rate for cleaning help | 15 B/. (C$20) | C$30 | - 31% | |
| Clothes | - 26% | |||
| Clothes in Panama is 26% cheaper than in Canada | ||||
| Panama | Canada | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 48 B/. (C$64) | C$81 | - 20% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 26 B/. (C$35) | C$52 | - 33% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 79 B/. (C$106) | C$122 | - 13% | |
| 1 pair of men’s leather business shoes | 83 B/. (C$112) | C$148 | - 24% | |
| Transportation | - 35% | |||
| Transportation in Panama is 35% cheaper than in Canada | ||||
| Panama | Canada | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 22,433 B/. (C$30,092) | C$29,369 | + 2% | |
| 1 liter (1/4 gallon) of gas | 1.29 B/. (C$1.73) | C$1.85 | - 6% | |
| Monthly ticket public transport | 42 B/. (C$56) | C$112 | - 50% | |
| Personal Care | + 16% | |||
| Personal Care in Panama is 16% more expensive than in Canada | ||||
| Panama | Canada | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 8 B/. (C$11) | C$12 | - 6% | |
| 1 box of antibiotics (12 doses) | 32 B/. (C$44) | C$30 | + 45% | |
| Short visit to private doctor (15 minutes) | 62 B/. (C$83) | C$101 | - 18% | |
| 1 box of 32 tampons (tampax, ob, ...) | 9 B/. (C$12) | C$9 | + 37% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 5.05 B/. (C$7) | C$6 | + 8% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (C$9) | C$5.78 | + 62% | |
| 4 rolls of toilet paper | 3.79 B/. (C$5.09) | C$4.13 | + 23% | |
| Tube of toothpaste | 3.38 B/. (C$4.54) | C$3.03 | + 50% | |
| Standard men's haircut in expat area of the city | 19 B/. (C$25) | C$30 | - 15% | |
| Entertainment | - 27% | |||
| Entertainment in Panama is 27% cheaper than in Canada | ||||
| Panama | Canada | Diff | ||
| Basic dinner out for two in neighborhood pub | 29 B/. (C$39) | C$66 | - 41% | |
| 2 tickets to the movies | 13 B/. (C$17) | C$31 | - 45% | |
| 2 tickets to the theater (best available seats) | 55 B/. (C$74) | C$163 | - 55% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 47 B/. (C$64) | C$109 | - 41% | |
| 1 cocktail drink in downtown club | 8 B/. (C$11) | C$13 | - 10% | |
| Cappuccino in expat area of the city | 5.69 B/. (C$8) | C$5.04 | + 52% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 2.75 B/. (C$3.68) | C$8 | - 51% | |
| Ipad wi-fi 128gb | 651 B/. (C$873) | C$811 | + 8% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.22 B/. (C$0.30) | C$0.43 | - 31% | |
| 1 month of gym membership in business district | 47 B/. (C$63) | C$59 | + 8% | |
| 1 package of marlboro cigarettes | 5.66 B/. (C$8) | C$17 | - 55% | |
| TOTAL | - 28% | |||
These prices were last updated on January 31, 2023.
Exchange rate:
1.341
CAD
/
PAB
This comparison is based on abundant and consistent data. It is based on 5,926 prices entered by 955 different people.
Cost of living in Panama is 28% cheaper than in Canada
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