Cost of living in Panama compared to Mexico
Currency:
| Food | + 5% | |||
|---|---|---|---|---|
| Food in Panama is 5% more expensive than in Mexico | ||||
| Panama | Mexico | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 14 B/. (Mex$ 279) | Mex$ 316 | - 12% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 7 B/. (Mex$ 145) | Mex$ 179 | - 19% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.36 B/. (Mex$ 65) | Mex$ 71 | - 8% | |
| 1 liter (1 qt.) of whole fat milk | 1.78 B/. (Mex$ 35) | Mex$ 29 | + 19% | |
| 12 eggs, large | 3.03 B/. (Mex$ 59) | Mex$ 50 | + 19% | |
| 1 kg (2 lb.) of tomatoes | 2.47 B/. (Mex$ 48) | Mex$ 34 | + 43% | |
| 500 gr (16 oz.) of local cheese | 7 B/. (Mex$ 142) | Mex$ 90 | + 58% | |
| 1 kg (2 lb.) of apples | 3.03 B/. (Mex$ 59) | Mex$ 47 | + 24% | |
| 1 kg (2 lb.) of potatoes | 2.27 B/. (Mex$ 44) | Mex$ 35 | + 27% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.55 B/. (Mex$ 30) | Mex$ 30 | + 1% | |
| 1 bottle of red table wine, good quality | 12 B/. (Mex$ 224) | Mex$ 263 | - 15% | |
| 2 liters of coca-cola | 2.55 B/. (Mex$ 50) | Mex$ 39 | + 28% | |
| Bread for 2 people for 1 day | 2.19 B/. (Mex$ 43) | Mex$ 27 | + 56% | |
| Housing | + 52% | |||
| Housing in Panama is 52% more expensive than in Mexico | ||||
| Panama | Mexico | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,591 B/. (Mex$ 30,954) | Mex$ 23,768 | + 30% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 1,002 B/. (Mex$ 19,494) | Mex$ 12,972 | + 50% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 153 B/. (Mex$ 2,983) | Mex$ 1,287 | + 132% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 1,004 B/. (Mex$ 19,521) | Mex$ 15,346 | + 27% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 658 B/. (Mex$ 12,790) | Mex$ 7,814 | + 64% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 97 B/. (Mex$ 1,886) | Mex$ 754 | + 150% | |
| Internet 8 mbps (1 month) | 45 B/. (Mex$ 871) | Mex$ 424 | + 105% | |
| 40” flat screen tv | 280 B/. (Mex$ 5,449) | Mex$ 5,926 | - 8% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 131 B/. (Mex$ 2,550) | Mex$ 2,281 | + 12% | |
| Laundry detergent (3 l. ~ 100 oz.) | 19 B/. (Mex$ 363) | Mex$ 153 | + 137% | |
| Hourly rate for cleaning help | 11 B/. (Mex$ 206) | Mex$ 139 | + 48% | |
| Clothes | + 23% | |||
| Clothes in Panama is 23% more expensive than in Mexico | ||||
| Panama | Mexico | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 50 B/. (Mex$ 979) | Mex$ 980 | - 0% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 49 B/. (Mex$ 952) | Mex$ 782 | + 22% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 110 B/. (Mex$ 2,131) | Mex$ 1,697 | + 26% | |
| 1 pair of men’s leather business shoes | 146 B/. (Mex$ 2,849) | Mex$ 1,414 | + 101% | |
| Transportation | - 8% | |||
| Transportation in Panama is 8% cheaper than in Mexico | ||||
| Panama | Mexico | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 24,370 B/. (Mex$ 474,034) | Mex$ 384,726 | + 23% | |
| 1 liter (1/4 gallon) of gas | 0.97 B/. (Mex$ 19) | Mex$ 24 | - 22% | |
| Monthly ticket public transport | 27 B/. (Mex$ 531) | Mex$ 642 | - 17% | |
| Personal Care | + 96% | |||
| Personal Care in Panama is 96% more expensive than in Mexico | ||||
| Panama | Mexico | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 10 B/. (Mex$ 201) | Mex$ 107 | + 88% | |
| 1 box of antibiotics (12 doses) | 19 B/. (Mex$ 370) | Mex$ 284 | + 30% | |
| Short visit to private doctor (15 minutes) | 80 B/. (Mex$ 1,559) | Mex$ 651 | + 139% | |
| 1 box of 32 tampons (tampax, ob, ...) | 11 B/. (Mex$ 223) | Mex$ 94 | + 136% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 7 B/. (Mex$ 139) | Mex$ 68 | + 105% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 9 B/. (Mex$ 166) | Mex$ 81 | + 105% | |
| 4 rolls of toilet paper | 4.49 B/. (Mex$ 87) | Mex$ 43 | + 103% | |
| Tube of toothpaste | 3.34 B/. (Mex$ 65) | Mex$ 44 | + 49% | |
| Standard men's haircut in expat area of the city | 40 B/. (Mex$ 774) | Mex$ 291 | + 166% | |
| Entertainment | + 89% | |||
| Entertainment in Panama is 89% more expensive than in Mexico | ||||
| Panama | Mexico | Diff | ||
| Basic dinner out for two in neighborhood pub | 36 B/. (Mex$ 695) | Mex$ 381 | + 82% | |
| 2 tickets to the movies | 11 B/. (Mex$ 220) | Mex$ 176 | + 25% | |
| 2 tickets to the theater (best available seats) | 35 B/. (Mex$ 679) | Mex$ 911 | - 25% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 66 B/. (Mex$ 1,276) | Mex$ 862 | + 48% | |
| 1 cocktail drink in downtown club | 17 B/. (Mex$ 327) | Mex$ 180 | + 82% | |
| Cappuccino in expat area of the city | 8 B/. (Mex$ 162) | Mex$ 100 | + 63% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 4.62 B/. (Mex$ 90) | Mex$ 58 | + 54% | |
| Ipad wi-fi 128gb | 805 B/. (Mex$ 15,656) | Mex$ 11,177 | + 40% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.50 B/. (Mex$ 10) | Mex$ 2.42 | + 301% | |
| 1 month of gym membership in business district | 57 B/. (Mex$ 1,117) | Mex$ 899 | + 24% | |
| 1 package of marlboro cigarettes | 8 B/. (Mex$ 157) | Mex$ 82 | + 91% | |
| TOTAL | + 33% | |||
This comparison has some inconsistent or sparse data. It already provides a reliable comparison but it is not bullet-proof. It is based on 6,834 prices entered by 681 different people.
These prices were last updated on May 12, 2025.
Exchange rate:
19.451
MXN
/
PAB
Cost of living in Panama is 33% more expensive than in Mexico
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