Cost of living in Panama compared to Mexico
Currency:
| Food | + 28% | |||
|---|---|---|---|---|
| Food in Panama is 28% more expensive than in Mexico | ||||
| Panama | Mexico | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 16 B/. (Mex$ 332) | Mex$ 239 | + 39% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 7 B/. (Mex$ 138) | Mex$ 132 | + 5% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.35 B/. (Mex$ 69) | Mex$ 60 | + 15% | |
| 1 liter (1 qt.) of whole fat milk | 1.57 B/. (Mex$ 32) | Mex$ 22 | + 46% | |
| 12 eggs, large | 2.26 B/. (Mex$ 47) | Mex$ 36 | + 28% | |
| 1 kg (2 lb.) of tomatoes | 1.95 B/. (Mex$ 40) | Mex$ 24 | + 69% | |
| 500 gr (16 oz.) of local cheese | 4.90 B/. (Mex$ 101) | Mex$ 68 | + 48% | |
| 1 kg (2 lb.) of apples | 2.26 B/. (Mex$ 47) | Mex$ 44 | + 7% | |
| 1 kg (2 lb.) of potatoes | 2.21 B/. (Mex$ 46) | Mex$ 26 | + 78% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.34 B/. (Mex$ 28) | Mex$ 25 | + 13% | |
| 1 bottle of red table wine, good quality | 11 B/. (Mex$ 234) | Mex$ 259 | - 10% | |
| 2 liters of coca-cola | 2.23 B/. (Mex$ 46) | Mex$ 32 | + 44% | |
| Bread for 2 people for 1 day | 1.27 B/. (Mex$ 26) | Mex$ 21 | + 25% | |
| Housing | + 79% | |||
| Housing in Panama is 79% more expensive than in Mexico | ||||
| Panama | Mexico | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,481 B/. (Mex$ 30,571) | Mex$ 19,177 | + 59% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 856 B/. (Mex$ 17,684) | Mex$ 9,197 | + 92% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 117 B/. (Mex$ 2,418) | Mex$ 1,068 | + 126% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 933 B/. (Mex$ 19,269) | Mex$ 11,241 | + 71% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 508 B/. (Mex$ 10,499) | Mex$ 6,186 | + 70% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 68 B/. (Mex$ 1,413) | Mex$ 772 | + 83% | |
| Internet 8 mbps (1 month) | 41 B/. (Mex$ 841) | Mex$ 385 | + 119% | |
| 40” flat screen tv | 311 B/. (Mex$ 6,418) | Mex$ 6,924 | - 7% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 113 B/. (Mex$ 2,324) | Mex$ 2,222 | + 5% | |
| Laundry detergent (3 l. ~ 100 oz.) | 7 B/. (Mex$ 145) | Mex$ 106 | + 37% | |
| Hourly rate for cleaning help | 12 B/. (Mex$ 255) | Mex$ 94 | + 170% | |
| Clothes | + 24% | |||
| Clothes in Panama is 24% more expensive than in Mexico | ||||
| Panama | Mexico | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 56 B/. (Mex$ 1,159) | Mex$ 870 | + 33% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 39 B/. (Mex$ 798) | Mex$ 663 | + 20% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 80 B/. (Mex$ 1,657) | Mex$ 1,509 | + 10% | |
| 1 pair of men’s leather business shoes | 86 B/. (Mex$ 1,783) | Mex$ 1,156 | + 54% | |
| Transportation | + 39% | |||
| Transportation in Panama is 39% more expensive than in Mexico | ||||
| Panama | Mexico | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 23,123 B/. (Mex$ 477,478) | Mex$ 341,317 | + 40% | |
| 1 liter (1/4 gallon) of gas | 0.95 B/. (Mex$ 20) | Mex$ 21 | - 5% | |
| Monthly ticket public transport | 44 B/. (Mex$ 908) | Mex$ 545 | + 67% | |
| Personal Care | + 85% | |||
| Personal Care in Panama is 85% more expensive than in Mexico | ||||
| Panama | Mexico | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 7 B/. (Mex$ 135) | Mex$ 86 | + 56% | |
| 1 box of antibiotics (12 doses) | 22 B/. (Mex$ 445) | Mex$ 226 | + 97% | |
| Short visit to private doctor (15 minutes) | 48 B/. (Mex$ 986) | Mex$ 572 | + 72% | |
| 1 box of 32 tampons (tampax, ob, ...) | 6 B/. (Mex$ 124) | Mex$ 80 | + 54% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.43 B/. (Mex$ 71) | Mex$ 51 | + 39% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (Mex$ 139) | Mex$ 57 | + 143% | |
| 4 rolls of toilet paper | 3.48 B/. (Mex$ 72) | Mex$ 29 | + 145% | |
| Tube of toothpaste | 3.04 B/. (Mex$ 63) | Mex$ 29 | + 113% | |
| Standard men's haircut in expat area of the city | 16 B/. (Mex$ 336) | Mex$ 198 | + 70% | |
| Entertainment | + 86% | |||
| Entertainment in Panama is 86% more expensive than in Mexico | ||||
| Panama | Mexico | Diff | ||
| Basic dinner out for two in neighborhood pub | 32 B/. (Mex$ 657) | Mex$ 319 | + 106% | |
| 2 tickets to the movies | 14 B/. (Mex$ 290) | Mex$ 152 | + 91% | |
| 2 tickets to the theater (best available seats) | 64 B/. (Mex$ 1,329) | Mex$ 841 | + 58% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 58 B/. (Mex$ 1,203) | Mex$ 726 | + 66% | |
| 1 cocktail drink in downtown club | 9 B/. (Mex$ 176) | Mex$ 144 | + 22% | |
| Cappuccino in expat area of the city | 4.73 B/. (Mex$ 98) | Mex$ 77 | + 26% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 3.45 B/. (Mex$ 71) | Mex$ 43 | + 66% | |
| Ipad wi-fi 128gb | 1,211 B/. (Mex$ 25,009) | Mex$ 11,752 | + 113% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.43 B/. (Mex$ 9) | Mex$ 3.14 | + 184% | |
| 1 month of gym membership in business district | 59 B/. (Mex$ 1,209) | Mex$ 934 | + 29% | |
| 1 package of marlboro cigarettes | 4.18 B/. (Mex$ 86) | Mex$ 65 | + 33% | |
| TOTAL | + 56% | |||
These prices were last updated on January 27, 2022.
Exchange rate:
20.649
MXN
/
PAB
This comparison is based on abundant and consistent data. It is based on 11,135 prices entered by 1,213 different people.
Cost of living in Panama is 56% more expensive than in Mexico
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