Cost of living in Panama compared to Latvia
Currency:
| Food | + 64% | |||
|---|---|---|---|---|
| Food in Panama is 64% more expensive than in Latvia | ||||
| Panama | Latvia | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 20 B/. (€19) | €7 | + 167% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 8 B/. (€7) | €5.78 | + 25% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.21 B/. (€3.08) | €3.00 | + 3% | |
| 1 liter (1 qt.) of whole fat milk | 1.60 B/. (€1.53) | €1.23 | + 25% | |
| 12 eggs, large | 2.57 B/. (€2.47) | €2.93 | - 16% | |
| 1 kg (2 lb.) of tomatoes | 2.32 B/. (€2.23) | €2.49 | - 10% | |
| 500 gr (16 oz.) of local cheese | 8 B/. (€8) | €7 | + 15% | |
| 1 kg (2 lb.) of apples | 2.42 B/. (€2.32) | €0.98 | + 138% | |
| 1 kg (2 lb.) of potatoes | 2.44 B/. (€2.34) | €0.71 | + 229% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.48 B/. (€1.42) | €1.13 | + 26% | |
| 1 bottle of red table wine, good quality | 16 B/. (€15) | €7 | + 116% | |
| 2 liters of coca-cola | 2.49 B/. (€2.39) | €1.76 | + 35% | |
| Bread for 2 people for 1 day | 2.02 B/. (€1.94) | €0.90 | + 115% | |
| Housing | + 36% | |||
| Housing in Panama is 36% more expensive than in Latvia | ||||
| Panama | Latvia | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,294 B/. (€1,244) | €792 | + 57% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 748 B/. (€719) | €522 | + 38% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 94 B/. (€91) | €133 | - 32% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 860 B/. (€827) | €597 | + 38% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 480 B/. (€461) | €366 | + 26% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 75 B/. (€72) | €83 | - 13% | |
| Internet 8 mbps (1 month) | 30 B/. (€29) | €14 | + 115% | |
| 40” flat screen tv | 331 B/. (€318) | €410 | - 22% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 136 B/. (€130) | €100 | + 30% | |
| Laundry detergent (3 l. ~ 100 oz.) | 7 B/. (€7) | €14 | - 49% | |
| Hourly rate for cleaning help | 16 B/. (€15) | €12 | + 23% | |
| Clothes | + 14% | |||
| Clothes in Panama is 14% more expensive than in Latvia | ||||
| Panama | Latvia | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 47 B/. (€45) | €61 | - 26% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 38 B/. (€36) | €21 | + 77% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 76 B/. (€73) | €78 | - 6% | |
| 1 pair of men’s leather business shoes | 80 B/. (€76) | €105 | - 27% | |
| Transportation | - 18% | |||
| Transportation in Panama is 18% cheaper than in Latvia | ||||
| Panama | Latvia | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 20,986 B/. (€20,173) | €19,000 | + 6% | |
| 1 liter (1/4 gallon) of gas | 1.20 B/. (€1.16) | €1.66 | - 31% | |
| Monthly ticket public transport | 38 B/. (€36) | €48 | - 25% | |
| Personal Care | + 25% | |||
| Personal Care in Panama is 25% more expensive than in Latvia | ||||
| Panama | Latvia | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 7 B/. (€7) | €8 | - 12% | |
| 1 box of antibiotics (12 doses) | 24 B/. (€23) | €16 | + 45% | |
| Short visit to private doctor (15 minutes) | 64 B/. (€62) | €40 | + 54% | |
| 1 box of 32 tampons (tampax, ob, ...) | 6 B/. (€6) | €3.00 | + 106% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 5.29 B/. (€5.08) | €4.16 | + 22% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (€7) | €6 | + 8% | |
| 4 rolls of toilet paper | 2.83 B/. (€2.72) | €1.82 | + 50% | |
| Tube of toothpaste | 3.32 B/. (€3.19) | €3.57 | - 10% | |
| Standard men's haircut in expat area of the city | 16 B/. (€16) | €20 | - 21% | |
| Entertainment | + 41% | |||
| Entertainment in Panama is 41% more expensive than in Latvia | ||||
| Panama | Latvia | Diff | ||
| Basic dinner out for two in neighborhood pub | 42 B/. (€41) | €16 | + 162% | |
| 2 tickets to the movies | 13 B/. (€12) | €16 | - 23% | |
| 2 tickets to the theater (best available seats) | 67 B/. (€64) | €61 | + 5% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 55 B/. (€53) | €49 | + 9% | |
| 1 cocktail drink in downtown club | 7 B/. (€6) | €10 | - 33% | |
| Cappuccino in expat area of the city | 4.27 B/. (€4.10) | €2.61 | + 57% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 3.13 B/. (€3.01) | €3.27 | - 8% | |
| Ipad wi-fi 128gb | 882 B/. (€848) | €765 | + 11% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.30 B/. (€0.29) | €0.10 | + 194% | |
| 1 month of gym membership in business district | 51 B/. (€49) | €38 | + 28% | |
| 1 package of marlboro cigarettes | 7 B/. (€7) | €4.00 | + 63% | |
| TOTAL | + 24% | |||
This comparison is lacking data. It provides a decent comparison, but it is not yet reliable. It is based on 699 prices entered by 81 different people.
These prices were last updated on May 15, 2022.
Exchange rate:
0.961
EUR
/
PAB
Cost of living in Panama is 24% more expensive than in Latvia
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