Cost of living in Panama compared to Canada
Currency:
| Food | - 20% | |||
|---|---|---|---|---|
| Food in Panama is 20% cheaper than in Canada | ||||
| Panama | Canada | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 15 B/. (C$21) | C$23 | - 11% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 8 B/. (C$11) | C$13 | - 18% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.63 B/. (C$4.90) | C$9 | - 43% | |
| 1 liter (1 qt.) of whole fat milk | 2.17 B/. (C$2.93) | C$3.04 | - 4% | |
| 12 eggs, large | 3.06 B/. (C$4.13) | C$5.72 | - 28% | |
| 1 kg (2 lb.) of tomatoes | 2.40 B/. (C$3.24) | C$5.13 | - 37% | |
| 500 gr (16 oz.) of local cheese | 7 B/. (C$10) | C$10 | + 1% | |
| 1 kg (2 lb.) of apples | 2.98 B/. (C$4.02) | C$5.00 | - 20% | |
| 1 kg (2 lb.) of potatoes | 2.14 B/. (C$2.88) | C$3.01 | - 4% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.29 B/. (C$1.74) | C$3.59 | - 52% | |
| 1 bottle of red table wine, good quality | 13 B/. (C$18) | C$18 | - 2% | |
| 2 liters of coca-cola | 2.55 B/. (C$3.44) | C$3.07 | + 12% | |
| Bread for 2 people for 1 day | 1.69 B/. (C$2.28) | C$2.94 | - 22% | |
| Housing | - 28% | |||
| Housing in Panama is 28% cheaper than in Canada | ||||
| Panama | Canada | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,466 B/. (C$1,976) | C$2,738 | - 28% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 891 B/. (C$1,201) | C$2,146 | - 44% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 155 B/. (C$208) | C$216 | - 4% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 990 B/. (C$1,334) | C$1,787 | - 25% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 939 B/. (C$1,266) | C$1,420 | - 11% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 89 B/. (C$120) | C$119 | + 1% | |
| Internet 8 mbps (1 month) | 43 B/. (C$58) | C$73 | - 21% | |
| 40” flat screen tv | 346 B/. (C$467) | C$452 | + 3% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 98 B/. (C$132) | C$218 | - 40% | |
| Laundry detergent (3 l. ~ 100 oz.) | 7 B/. (C$10) | C$14 | - 29% | |
| Hourly rate for cleaning help | 4.57 B/. (C$6) | C$28 | - 78% | |
| Clothes | - 19% | |||
| Clothes in Panama is 19% cheaper than in Canada | ||||
| Panama | Canada | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 49 B/. (C$66) | C$78 | - 16% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 33 B/. (C$45) | C$57 | - 20% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 84 B/. (C$113) | C$121 | - 7% | |
| 1 pair of men’s leather business shoes | 79 B/. (C$107) | C$149 | - 28% | |
| Transportation | - 41% | |||
| Transportation in Panama is 41% cheaper than in Canada | ||||
| Panama | Canada | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 20,405 B/. (C$27,508) | C$30,938 | - 11% | |
| 1 liter (1/4 gallon) of gas | 1.37 B/. (C$1.85) | C$1.67 | + 11% | |
| Monthly ticket public transport | 31 B/. (C$42) | C$105 | - 60% | |
| Personal Care | - 27% | |||
| Personal Care in Panama is 27% cheaper than in Canada | ||||
| Panama | Canada | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 7 B/. (C$10) | C$13 | - 25% | |
| 1 box of antibiotics (12 doses) | 17 B/. (C$23) | C$28 | - 19% | |
| Short visit to private doctor (15 minutes) | 24 B/. (C$33) | C$114 | - 71% | |
| 1 box of 32 tampons (tampax, ob, ...) | 5.50 B/. (C$7) | C$9 | - 18% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.54 B/. (C$4.78) | C$7 | - 28% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (C$9) | C$6 | + 48% | |
| 4 rolls of toilet paper | 3.27 B/. (C$4.41) | C$4.97 | - 11% | |
| Tube of toothpaste | 2.95 B/. (C$3.98) | C$3.51 | + 13% | |
| Standard men's haircut in expat area of the city | 15 B/. (C$21) | C$31 | - 33% | |
| Entertainment | - 21% | |||
| Entertainment in Panama is 21% cheaper than in Canada | ||||
| Panama | Canada | Diff | ||
| Basic dinner out for two in neighborhood pub | 34 B/. (C$46) | C$65 | - 29% | |
| 2 tickets to the movies | 13 B/. (C$17) | C$32 | - 45% | |
| 2 tickets to the theater (best available seats) | 36 B/. (C$48) | C$163 | - 71% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 58 B/. (C$78) | C$112 | - 31% | |
| 1 cocktail drink in downtown club | 10 B/. (C$13) | C$15 | - 8% | |
| Cappuccino in expat area of the city | 5.52 B/. (C$7) | C$5.35 | + 39% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 2.83 B/. (C$3.81) | C$7 | - 48% | |
| Ipad wi-fi 128gb | 663 B/. (C$894) | C$771 | + 16% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.29 B/. (C$0.39) | C$0.43 | - 10% | |
| 1 month of gym membership in business district | 49 B/. (C$66) | C$62 | + 6% | |
| 1 package of marlboro cigarettes | 5.84 B/. (C$8) | C$17 | - 53% | |
| TOTAL | - 29% | |||
These prices were last updated on September 22, 2023.
Exchange rate:
1.348
CAD
/
PAB
This comparison is based on abundant and consistent data. It is based on 5,747 prices entered by 860 different people.
Cost of living in Panama is 29% cheaper than in Canada
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