Cost of living in Panama compared to Mexico
Currency:
| Food | + 28% | |||
|---|---|---|---|---|
| Food in Panama is 28% more expensive than in Mexico | ||||
| Basic lunchtime menu (including a drink) in the business district | 12 B/. (Mex$ 235) | Mex$ 215 | + 9% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 7 B/. (Mex$ 140) | Mex$ 118 | + 19% | |
| 500 gr (1 lb.) of boneless chicken breast | 2.86 B/. (Mex$ 57) | Mex$ 54 | + 7% | |
| 1 liter (1 qt.) of whole fat milk | 1.52 B/. (Mex$ 30) | Mex$ 21 | + 46% | |
| 12 eggs, large | 2.93 B/. (Mex$ 59) | Mex$ 35 | + 66% | |
| 1 kg (2 lb.) of tomatoes | 2.68 B/. (Mex$ 54) | Mex$ 25 | + 118% | |
| 500 gr (16 oz.) of local cheese | 5.99 B/. (Mex$ 120) | Mex$ 72 | + 66% | |
| 1 kg (2 lb.) of apples | 2.92 B/. (Mex$ 58) | Mex$ 40 | + 45% | |
| 1 kg (2 lb.) of potatoes | 2.01 B/. (Mex$ 40) | Mex$ 24 | + 65% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.03 B/. (Mex$ 21) | Mex$ 24 | - 15% | |
| 1 bottle of red table wine, good quality | 10 B/. (Mex$ 198) | Mex$ 233 | - 15% | |
| 2 liters of coca-cola | 2.22 B/. (Mex$ 45) | Mex$ 30 | + 50% | |
| Bread for 2 people for 1 day | 1.65 B/. (Mex$ 33) | Mex$ 20 | + 61% | |
| Housing | + 75% | |||
| Housing in Panama is 75% more expensive than in Mexico | ||||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,298 B/. (Mex$ 25,994) | Mex$ 18,979 | + 37% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 919 B/. (Mex$ 18,398) | Mex$ 8,639 | + 113% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 109 B/. (Mex$ 2,188) | Mex$ 1,029 | + 113% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 918 B/. (Mex$ 18,377) | Mex$ 10,168 | + 81% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 673 B/. (Mex$ 13,468) | Mex$ 4,902 | + 175% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 79 B/. (Mex$ 1,586) | Mex$ 724 | + 119% | |
| Internet 8 mbps (1 month) | 41 B/. (Mex$ 823) | Mex$ 382 | + 115% | |
| 40” flat screen tv | 389 B/. (Mex$ 7,792) | Mex$ 7,004 | + 11% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 101 B/. (Mex$ 2,021) | Mex$ 2,034 | - 1% | |
| Laundry detergent (3 l. ~ 100 oz.) | 8 B/. (Mex$ 152) | Mex$ 100 | + 51% | |
| Hourly rate for cleaning help | 5.37 B/. (Mex$ 108) | Mex$ 91 | + 19% | |
| Clothes | + 12% | |||
| Clothes in Panama is 12% more expensive than in Mexico | ||||
| 1 pair of jeans (levis 501 or similar) | 44 B/. (Mex$ 886) | Mex$ 845 | + 5% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 38 B/. (Mex$ 755) | Mex$ 650 | + 16% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 68 B/. (Mex$ 1,354) | Mex$ 1,505 | - 10% | |
| 1 pair of men’s leather business shoes | 78 B/. (Mex$ 1,558) | Mex$ 1,101 | + 41% | |
| Transportation | + 11% | |||
| Transportation in Panama is 11% more expensive than in Mexico | ||||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 20,866 B/. (Mex$ 417,860) | Mex$ 342,708 | + 22% | |
| 1 liter (1/4 gallon) of gas | 0.70 B/. (Mex$ 14) | Mex$ 19 | - 25% | |
| Monthly ticket public transport | 32 B/. (Mex$ 646) | Mex$ 529 | + 22% | |
| Personal Care | + 74% | |||
| Personal Care in Panama is 74% more expensive than in Mexico | ||||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 11 B/. (Mex$ 226) | Mex$ 82 | + 176% | |
| 1 box of antibiotics (12 doses) | 19 B/. (Mex$ 388) | Mex$ 174 | + 123% | |
| Short visit to private doctor (15 minutes) | 45 B/. (Mex$ 891) | Mex$ 519 | + 72% | |
| 1 box of 32 tampons (tampax, ob, ...) | 3.83 B/. (Mex$ 77) | Mex$ 81 | - 5% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.02 B/. (Mex$ 61) | Mex$ 50 | + 20% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 5.59 B/. (Mex$ 112) | Mex$ 55 | + 103% | |
| 4 rolls of toilet paper | 2.11 B/. (Mex$ 42) | Mex$ 30 | + 43% | |
| Tube of toothpaste | 2.90 B/. (Mex$ 58) | Mex$ 30 | + 97% | |
| Standard men's haircut in expat area of the city | 14 B/. (Mex$ 287) | Mex$ 192 | + 49% | |
| Entertainment | + 51% | |||
| Entertainment in Panama is 51% more expensive than in Mexico | ||||
| Basic dinner out for two in neighborhood pub | 33 B/. (Mex$ 652) | Mex$ 309 | + 111% | |
| 2 tickets to the movies | 11 B/. (Mex$ 230) | Mex$ 147 | + 57% | |
| 2 tickets to the theater (best available seats) | 39 B/. (Mex$ 778) | Mex$ 830 | - 6% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 54 B/. (Mex$ 1,079) | Mex$ 679 | + 59% | |
| 1 cocktail drink in downtown club | 10 B/. (Mex$ 197) | Mex$ 122 | + 61% | |
| Cappuccino in expat area of the city | 4.62 B/. (Mex$ 93) | Mex$ 72 | + 28% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 3.94 B/. (Mex$ 79) | Mex$ 39 | + 103% | |
| Ipad wi-fi 128gb | 537 B/. (Mex$ 10,760) | Mex$ 10,031 | + 7% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.34 B/. (Mex$ 7) | Mex$ 2.66 | + 154% | |
| 1 month of gym membership in business district | 46 B/. (Mex$ 924) | Mex$ 984 | - 6% | |
| 1 package of marlboro cigarettes | 5.35 B/. (Mex$ 107) | Mex$ 61 | + 75% | |
| TOTAL | + 42% | |||
These prices were last updated on January 28, 2021.
Exchange rate:
20.026
MXN
/
PAB
This comparison is based on abundant and consistent data. It is based on 13,611 prices entered by 1,268 different people.
Cost of living in Panama is 42% more expensive than in Mexico
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