Cost of living in Panama compared to New Zealand
Currency:
| Food | - 13% | |||
|---|---|---|---|---|
| Food in Panama is 13% cheaper than in New Zealand | ||||
| Panama | New Zealand | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 15 B/. (NZ$26) | NZ$22 | + 17% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 8 B/. (NZ$13) | NZ$15 | - 12% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.63 B/. (NZ$6) | NZ$9 | - 30% | |
| 1 liter (1 qt.) of whole fat milk | 2.17 B/. (NZ$3.64) | NZ$2.46 | + 48% | |
| 12 eggs, large | 3.06 B/. (NZ$5.13) | NZ$11 | - 55% | |
| 1 kg (2 lb.) of tomatoes | 2.40 B/. (NZ$4.03) | NZ$9 | - 57% | |
| 500 gr (16 oz.) of local cheese | 7 B/. (NZ$12) | NZ$10 | + 22% | |
| 1 kg (2 lb.) of apples | 2.98 B/. (NZ$5.00) | NZ$4.67 | + 7% | |
| 1 kg (2 lb.) of potatoes | 2.14 B/. (NZ$3.59) | NZ$4.04 | - 11% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.29 B/. (NZ$2.16) | NZ$4.85 | - 55% | |
| 1 bottle of red table wine, good quality | 13 B/. (NZ$22) | NZ$20 | + 14% | |
| 2 liters of coca-cola | 2.55 B/. (NZ$4.28) | NZ$4.10 | + 4% | |
| Bread for 2 people for 1 day | 1.69 B/. (NZ$2.84) | NZ$2.55 | + 12% | |
| Housing | - 30% | |||
| Housing in Panama is 30% cheaper than in New Zealand | ||||
| Panama | New Zealand | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,466 B/. (NZ$2,458) | NZ$3,584 | - 31% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 891 B/. (NZ$1,494) | NZ$2,858 | - 48% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 155 B/. (NZ$259) | NZ$202 | + 28% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 990 B/. (NZ$1,660) | NZ$2,583 | - 36% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 939 B/. (NZ$1,575) | NZ$1,932 | - 18% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 89 B/. (NZ$149) | NZ$148 | + 1% | |
| Internet 8 mbps (1 month) | 43 B/. (NZ$72) | NZ$75 | - 4% | |
| 40” flat screen tv | 346 B/. (NZ$581) | NZ$673 | - 14% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 98 B/. (NZ$164) | NZ$291 | - 44% | |
| Laundry detergent (3 l. ~ 100 oz.) | 7 B/. (NZ$12) | NZ$19 | - 35% | |
| Hourly rate for cleaning help | 4.57 B/. (NZ$8) | NZ$34 | - 77% | |
| Clothes | - 36% | |||
| Clothes in Panama is 36% cheaper than in New Zealand | ||||
| Panama | New Zealand | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 49 B/. (NZ$82) | NZ$120 | - 32% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 33 B/. (NZ$56) | NZ$95 | - 41% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 84 B/. (NZ$140) | NZ$166 | - 16% | |
| 1 pair of men’s leather business shoes | 79 B/. (NZ$133) | NZ$210 | - 37% | |
| Transportation | - 45% | |||
| Transportation in Panama is 45% cheaper than in New Zealand | ||||
| Panama | New Zealand | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 20,405 B/. (NZ$34,223) | NZ$38,812 | - 12% | |
| 1 liter (1/4 gallon) of gas | 1.37 B/. (NZ$2.30) | NZ$2.75 | - 17% | |
| Monthly ticket public transport | 31 B/. (NZ$52) | NZ$138 | - 62% | |
| Personal Care | + 24% | |||
| Personal Care in Panama is 24% more expensive than in New Zealand | ||||
| Panama | New Zealand | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 7 B/. (NZ$12) | NZ$14 | - 8% | |
| 1 box of antibiotics (12 doses) | 17 B/. (NZ$29) | NZ$5.00 | + 474% | |
| Short visit to private doctor (15 minutes) | 24 B/. (NZ$41) | NZ$63 | - 35% | |
| 1 box of 32 tampons (tampax, ob, ...) | 5.50 B/. (NZ$9) | NZ$7 | + 27% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.54 B/. (NZ$5.94) | NZ$6 | - 5% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (NZ$12) | NZ$8 | + 51% | |
| 4 rolls of toilet paper | 3.27 B/. (NZ$5.48) | NZ$3.37 | + 63% | |
| Tube of toothpaste | 2.95 B/. (NZ$4.95) | NZ$4.03 | + 23% | |
| Standard men's haircut in expat area of the city | 15 B/. (NZ$26) | NZ$39 | - 33% | |
| Entertainment | - 25% | |||
| Entertainment in Panama is 25% cheaper than in New Zealand | ||||
| Panama | New Zealand | Diff | ||
| Basic dinner out for two in neighborhood pub | 34 B/. (NZ$57) | NZ$88 | - 35% | |
| 2 tickets to the movies | 13 B/. (NZ$22) | NZ$38 | - 44% | |
| 2 tickets to the theater (best available seats) | 36 B/. (NZ$60) | NZ$136 | - 56% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 58 B/. (NZ$97) | NZ$125 | - 22% | |
| 1 cocktail drink in downtown club | 10 B/. (NZ$17) | NZ$21 | - 21% | |
| Cappuccino in expat area of the city | 5.52 B/. (NZ$9) | NZ$5.78 | + 60% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 2.83 B/. (NZ$4.74) | NZ$12 | - 59% | |
| Ipad wi-fi 128gb | 663 B/. (NZ$1,113) | NZ$1,278 | - 13% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.29 B/. (NZ$0.48) | NZ$0.44 | + 9% | |
| 1 month of gym membership in business district | 49 B/. (NZ$82) | NZ$79 | + 4% | |
| 1 package of marlboro cigarettes | 5.84 B/. (NZ$10) | NZ$39 | - 75% | |
| TOTAL | - 29% | |||
These prices were last updated on September 25, 2023.
Exchange rate:
1.677
NZD
/
PAB
This comparison is based on abundant and consistent data. It is based on 1,449 prices entered by 164 different people.
Cost of living in Panama is 29% cheaper than in New Zealand
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