Cost of living in Panama compared to Mexico
Currency:
| Food | + 34% | |||
|---|---|---|---|---|
| Food in Panama is 34% more expensive than in Mexico | ||||
| Basic lunchtime menu (including a drink) in the business district | 12 B/. (Mex$ 219) | Mex$ 154 | + 42% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 7 B/. (Mex$ 129) | Mex$ 106 | + 22% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.37 B/. (Mex$ 64) | Mex$ 58 | + 10% | |
| 1 liter (1 qt.) of whole fat milk | 1.58 B/. (Mex$ 30) | Mex$ 20 | + 49% | |
| 12 eggs, large | 2.41 B/. (Mex$ 46) | Mex$ 32 | + 44% | |
| 1 kg (2 lb.) of tomatoes | 2.47 B/. (Mex$ 47) | Mex$ 22 | + 113% | |
| 500 gr (16 oz.) of local cheese | 6 B/. (Mex$ 116) | Mex$ 67 | + 73% | |
| 1 kg (2 lb.) of apples | 3.11 B/. (Mex$ 59) | Mex$ 40 | + 47% | |
| 1 kg (2 lb.) of potatoes | 2.23 B/. (Mex$ 42) | Mex$ 23 | + 80% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 0.88 B/. (Mex$ 17) | Mex$ 21 | - 22% | |
| 1 bottle of red table wine, good quality | 9 B/. (Mex$ 169) | Mex$ 215 | - 22% | |
| 2 liters of coca-cola | 2.48 B/. (Mex$ 47) | Mex$ 28 | + 71% | |
| Bread for 2 people for 1 day | 1.30 B/. (Mex$ 25) | Mex$ 19 | + 29% | |
| Housing | + 52% | |||
| Housing in Panama is 52% more expensive than in Mexico | ||||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,336 B/. (Mex$ 25,319) | Mex$ 18,990 | + 33% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 828 B/. (Mex$ 15,689) | Mex$ 8,889 | + 76% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 130 B/. (Mex$ 2,462) | Mex$ 1,265 | + 95% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 924 B/. (Mex$ 17,509) | Mex$ 10,677 | + 64% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 605 B/. (Mex$ 11,473) | Mex$ 5,857 | + 96% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 91 B/. (Mex$ 1,731) | Mex$ 937 | + 85% | |
| Internet 8 mbps (1 month) | 31 B/. (Mex$ 596) | Mex$ 387 | + 54% | |
| 40” flat screen tv | 374 B/. (Mex$ 7,095) | Mex$ 7,514 | - 6% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 107 B/. (Mex$ 2,030) | Mex$ 1,954 | + 4% | |
| Laundry detergent (3 l. ~ 100 oz.) | 8 B/. (Mex$ 157) | Mex$ 100 | + 56% | |
| Hourly rate for cleaning help | 4.67 B/. (Mex$ 88) | Mex$ 87 | + 1% | |
| Clothes | + 8% | |||
| Clothes in Panama is 8% more expensive than in Mexico | ||||
| 1 pair of jeans (levis 501 or similar) | 51 B/. (Mex$ 973) | Mex$ 853 | + 14% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 35 B/. (Mex$ 671) | Mex$ 635 | + 6% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 78 B/. (Mex$ 1,476) | Mex$ 1,507 | - 2% | |
| 1 pair of men’s leather business shoes | 80 B/. (Mex$ 1,508) | Mex$ 1,210 | + 25% | |
| Transportation | + 9% | |||
| Transportation in Panama is 9% more expensive than in Mexico | ||||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 20,077 B/. (Mex$ 380,439) | Mex$ 326,745 | + 16% | |
| 1 liter (1/4 gallon) of gas | 0.82 B/. (Mex$ 16) | Mex$ 20 | - 23% | |
| Monthly ticket public transport | 32 B/. (Mex$ 605) | Mex$ 496 | + 22% | |
| Personal Care | + 75% | |||
| Personal Care in Panama is 75% more expensive than in Mexico | ||||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 9 B/. (Mex$ 165) | Mex$ 78 | + 112% | |
| 1 box of antibiotics (12 doses) | 28 B/. (Mex$ 532) | Mex$ 226 | + 136% | |
| Short visit to private doctor (15 minutes) | 47 B/. (Mex$ 883) | Mex$ 549 | + 61% | |
| 1 box of 32 tampons (tampax, ob, ...) | 4.54 B/. (Mex$ 86) | Mex$ 68 | + 27% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 4.01 B/. (Mex$ 76) | Mex$ 49 | + 55% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 5.42 B/. (Mex$ 103) | Mex$ 59 | + 75% | |
| 4 rolls of toilet paper | 2.51 B/. (Mex$ 48) | Mex$ 30 | + 57% | |
| Tube of toothpaste | 2.47 B/. (Mex$ 47) | Mex$ 30 | + 57% | |
| Standard men's haircut in expat area of the city | 15 B/. (Mex$ 275) | Mex$ 176 | + 57% | |
| Entertainment | + 52% | |||
| Entertainment in Panama is 52% more expensive than in Mexico | ||||
| Basic dinner out for two in neighborhood pub | 34 B/. (Mex$ 652) | Mex$ 342 | + 90% | |
| 2 tickets to the movies | 13 B/. (Mex$ 238) | Mex$ 140 | + 70% | |
| 2 tickets to the theater (best available seats) | 46 B/. (Mex$ 864) | Mex$ 942 | - 8% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 57 B/. (Mex$ 1,087) | Mex$ 664 | + 64% | |
| 1 cocktail drink in downtown club | 10 B/. (Mex$ 183) | Mex$ 109 | + 67% | |
| Cappuccino in expat area of the city | 3.96 B/. (Mex$ 75) | Mex$ 59 | + 27% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 2.72 B/. (Mex$ 52) | Mex$ 41 | + 26% | |
| Ipad wi-fi 128gb | 559 B/. (Mex$ 10,586) | Mex$ 9,897 | + 7% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.24 B/. (Mex$ 4.48) | Mex$ 1.57 | + 186% | |
| 1 month of gym membership in business district | 50 B/. (Mex$ 951) | Mex$ 846 | + 12% | |
| 1 package of marlboro cigarettes | 5.35 B/. (Mex$ 101) | Mex$ 55 | + 84% | |
| TOTAL | + 35% | |||
These prices were last updated on January 28, 2020.
Exchange rate:
18.949
MXN
/
PAB
This comparison is based on abundant and consistent data. It is based on 17,907 prices entered by 1,484 different people.
Cost of living in Panama is 35% more expensive than in Mexico
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