Cost of living in Panama compared to Latvia
Currency:
| Food | + 10% | |||
|---|---|---|---|---|
| Food in Panama is 10% more expensive than in Latvia | ||||
| Basic lunchtime menu (including a drink) in the business district | 12 B/. (€10) | €8 | + 14% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 6 B/. (€5.34) | €5.93 | - 10% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.09 B/. (€2.54) | €3.17 | - 20% | |
| 1 liter (1 qt.) of whole fat milk | 1.45 B/. (€1.20) | €0.95 | + 25% | |
| 12 eggs, large | 2.78 B/. (€2.29) | €2.34 | - 3% | |
| 1 kg (2 lb.) of tomatoes | 2.48 B/. (€2.04) | €1.76 | + 16% | |
| 500 gr (16 oz.) of local cheese | 5.77 B/. (€4.75) | €3.48 | + 36% | |
| 1 kg (2 lb.) of apples | 2.23 B/. (€1.83) | €1.67 | + 10% | |
| 1 kg (2 lb.) of potatoes | 2.05 B/. (€1.69) | €0.51 | + 229% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.02 B/. (€0.84) | €1.19 | - 30% | |
| 1 bottle of red table wine, good quality | 10 B/. (€8) | €7 | + 15% | |
| 2 liters of coca-cola | 2.18 B/. (€1.79) | €1.89 | - 5% | |
| Bread for 2 people for 1 day | 1.50 B/. (€1.24) | €0.81 | + 52% | |
| Housing | + 8% | |||
| Housing in Panama is 8% more expensive than in Latvia | ||||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,360 B/. (€1,118) | €779 | + 44% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 872 B/. (€717) | €551 | + 30% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 107 B/. (€88) | €233 | - 62% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 899 B/. (€739) | €505 | + 46% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 598 B/. (€492) | €390 | + 26% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 81 B/. (€66) | €145 | - 54% | |
| Internet 8 mbps (1 month) | 44 B/. (€36) | €16 | + 132% | |
| 40” flat screen tv | 345 B/. (€283) | €271 | + 4% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 110 B/. (€91) | €141 | - 36% | |
| Laundry detergent (3 l. ~ 100 oz.) | 7 B/. (€5.69) | €14 | - 59% | |
| Hourly rate for cleaning help | 6 B/. (€5.33) | €15 | - 64% | |
| Clothes | - 24% | |||
| Clothes in Panama is 24% cheaper than in Latvia | ||||
| 1 pair of jeans (levis 501 or similar) | 48 B/. (€40) | €61 | - 35% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 38 B/. (€31) | €38 | - 19% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 77 B/. (€63) | €78 | - 19% | |
| 1 pair of men’s leather business shoes | 93 B/. (€77) | €105 | - 27% | |
| Transportation | - 21% | |||
| Transportation in Panama is 21% cheaper than in Latvia | ||||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 21,700 B/. (€17,843) | €20,476 | - 13% | |
| 1 liter (1/4 gallon) of gas | 0.66 B/. (€0.54) | €1.16 | - 53% | |
| Monthly ticket public transport | 49 B/. (€40) | €49 | - 18% | |
| Personal Care | - 8% | |||
| Personal Care in Panama is 8% cheaper than in Latvia | ||||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 8 B/. (€6) | €8 | - 18% | |
| 1 box of antibiotics (12 doses) | 20 B/. (€16) | €18 | - 8% | |
| Short visit to private doctor (15 minutes) | 40 B/. (€33) | €49 | - 33% | |
| 1 box of 32 tampons (tampax, ob, ...) | 4.21 B/. (€3.46) | €5.06 | - 32% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.91 B/. (€3.21) | €3.76 | - 15% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (€5.49) | €3.25 | + 69% | |
| 4 rolls of toilet paper | 3.05 B/. (€2.51) | €1.86 | + 35% | |
| Tube of toothpaste | 2.58 B/. (€2.12) | €2.61 | - 19% | |
| Standard men's haircut in expat area of the city | 16 B/. (€13) | €18 | - 27% | |
| Entertainment | + 4% | |||
| Entertainment in Panama is 4% more expensive than in Latvia | ||||
| Basic dinner out for two in neighborhood pub | 31 B/. (€26) | €33 | - 23% | |
| 2 tickets to the movies | 12 B/. (€10) | €15 | - 35% | |
| 2 tickets to the theater (best available seats) | 39 B/. (€32) | €77 | - 58% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 52 B/. (€43) | €41 | + 6% | |
| 1 cocktail drink in downtown club | 9 B/. (€8) | €7 | + 7% | |
| Cappuccino in expat area of the city | 4.88 B/. (€4.02) | €2.66 | + 51% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 3.49 B/. (€2.87) | €3.18 | - 10% | |
| Ipad wi-fi 128gb | 525 B/. (€432) | €600 | - 28% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.40 B/. (€0.33) | €0.10 | + 233% | |
| 1 month of gym membership in business district | 46 B/. (€38) | €38 | + 0% | |
| 1 package of marlboro cigarettes | 5.14 B/. (€4.22) | €4.83 | - 12% | |
| TOTAL | - 2% | |||
These prices were last updated on May 09, 2021.
Exchange rate:
0.822
EUR
/
PAB
This comparison is based on abundant and consistent data. It is based on 984 prices entered by 106 different people.
Cost of living in Panama is about the same as in Latvia
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