Cost of living in Panama compared to Germany
Currency:
| Food | - 6% | |||
|---|---|---|---|---|
| Food in Panama is 6% cheaper than in Germany | ||||
| Panama | Germany | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 15 B/. (€14) | €15 | - 1% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 8 B/. (€7) | €10 | - 25% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.63 B/. (€3.42) | €5.46 | - 37% | |
| 1 liter (1 qt.) of whole fat milk | 2.17 B/. (€2.05) | €1.24 | + 65% | |
| 12 eggs, large | 3.06 B/. (€2.88) | €4.08 | - 29% | |
| 1 kg (2 lb.) of tomatoes | 2.40 B/. (€2.27) | €3.07 | - 26% | |
| 500 gr (16 oz.) of local cheese | 7 B/. (€7) | €6 | + 5% | |
| 1 kg (2 lb.) of apples | 2.92 B/. (€2.75) | €2.65 | + 4% | |
| 1 kg (2 lb.) of potatoes | 2.14 B/. (€2.01) | €1.92 | + 5% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.29 B/. (€1.22) | €1.02 | + 19% | |
| 1 bottle of red table wine, good quality | 13 B/. (€13) | €6 | + 110% | |
| 2 liters of coca-cola | 2.55 B/. (€2.41) | €2.16 | + 12% | |
| Bread for 2 people for 1 day | 1.69 B/. (€1.60) | €1.72 | - 7% | |
| Housing | - 30% | |||
| Housing in Panama is 30% cheaper than in Germany | ||||
| Panama | Germany | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,466 B/. (€1,381) | €1,993 | - 31% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 891 B/. (€839) | €1,565 | - 46% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 152 B/. (€144) | €243 | - 41% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 939 B/. (€884) | €1,217 | - 27% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 939 B/. (€885) | €925 | - 4% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 89 B/. (€84) | €214 | - 61% | |
| Internet 8 mbps (1 month) | 43 B/. (€40) | €37 | + 10% | |
| 40” flat screen tv | 346 B/. (€326) | €364 | - 10% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 98 B/. (€92) | €114 | - 19% | |
| Laundry detergent (3 l. ~ 100 oz.) | 7 B/. (€7) | €10 | - 27% | |
| Hourly rate for cleaning help | 4.70 B/. (€4.43) | €17 | - 73% | |
| Clothes | - 27% | |||
| Clothes in Panama is 27% cheaper than in Germany | ||||
| Panama | Germany | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 49 B/. (€46) | €86 | - 46% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 33 B/. (€32) | €37 | - 14% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 84 B/. (€79) | €88 | - 11% | |
| 1 pair of men’s leather business shoes | 79 B/. (€75) | €115 | - 35% | |
| Transportation | - 42% | |||
| Transportation in Panama is 42% cheaper than in Germany | ||||
| Panama | Germany | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 20,405 B/. (€19,226) | €30,308 | - 37% | |
| 1 liter (1/4 gallon) of gas | 1.35 B/. (€1.28) | €1.85 | - 31% | |
| Monthly ticket public transport | 31 B/. (€29) | €60 | - 51% | |
| Personal Care | + 10% | |||
| Personal Care in Panama is 10% more expensive than in Germany | ||||
| Panama | Germany | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 7 B/. (€7) | €8 | - 17% | |
| 1 box of antibiotics (12 doses) | 17 B/. (€16) | €8 | + 114% | |
| Short visit to private doctor (15 minutes) | 28 B/. (€27) | €72 | - 63% | |
| 1 box of 32 tampons (tampax, ob, ...) | 5.50 B/. (€5.18) | €3.24 | + 60% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.42 B/. (€3.22) | €2.68 | + 20% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (€7) | €3.18 | + 108% | |
| 4 rolls of toilet paper | 3.52 B/. (€3.31) | €1.78 | + 86% | |
| Tube of toothpaste | 3.31 B/. (€3.12) | €1.61 | + 94% | |
| Standard men's haircut in expat area of the city | 15 B/. (€15) | €22 | - 32% | |
| Entertainment | - 3% | |||
| Entertainment in Panama is about the same as in Germany | ||||
| Panama | Germany | Diff | ||
| Basic dinner out for two in neighborhood pub | 34 B/. (€32) | €44 | - 27% | |
| 2 tickets to the movies | 13 B/. (€12) | €24 | - 50% | |
| 2 tickets to the theater (best available seats) | 36 B/. (€33) | €177 | - 81% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 58 B/. (€54) | €62 | - 12% | |
| 1 cocktail drink in downtown club | 10 B/. (€9) | €10 | - 6% | |
| Cappuccino in expat area of the city | 5.48 B/. (€5.16) | €3.52 | + 47% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 2.83 B/. (€2.66) | €4.06 | - 34% | |
| Ipad wi-fi 128gb | 663 B/. (€625) | €617 | + 1% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.29 B/. (€0.27) | €0.10 | + 159% | |
| 1 month of gym membership in business district | 49 B/. (€46) | €40 | + 15% | |
| 1 package of marlboro cigarettes | 5.65 B/. (€5.33) | €8 | - 33% | |
| TOTAL | - 23% | |||
These prices were last updated on October 02, 2023.
Exchange rate:
0.942
EUR
/
PAB
This comparison is based on abundant and consistent data. It is based on 3,405 prices entered by 489 different people.
Cost of living in Panama is 23% cheaper than in Germany
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