See also: food prices Prices in restaurants entertainment costs
Cost of living and expenses in Panama
What are the costs of living, how much do you have to spend on fees and expenses in Panama?
What is the cost of a mortgage, what are the average earnings in Panama, and how much do you have to spend on clothes or a flat in the centre or on the outskirts of the city?
Below you will read about the expenses, fees, rental prices, how much you have to pay for clothes or shoes and the cost of living in Panama
(The last update: 6 days ago)
Currency in Panama Panamanian balboa (PAB). For 10 US dollars you can get 10 Panamanian balboas. For 100 US dollars you can get 100 Panamanian balboas. And the other way around: For 10 Panamanian balboas you can get 10 US dollars.
See also how prices have changed in previous years: Price changes in previous years in Panama
What are the different prices in the cities in Panama? Look here: Prices in cities in Panama
Prices: David Santiago San Miguelito Aguadulce Colón Chilibre Pacora Tocumen San Carlos Puerto Armuelles
fees
$97 ($52 - $200)
by half less than in United States
internet
$49 ($35 - $78)
32% is less expensive than in United States
jeans
$49 ($25 - $70)
6.7% is less expensive than in United States
average earnings
$793
83% is less expensive than in United States
renting a small apartment in the center
$817 ($450 - $1.2K)
by half less than in United States
renting a large apartment outside the center
$1.03K ($600 - $2K)
by half less than in United States
The cost of living in Panama:
- One-way Ticket (Local Transport) $0.45 (PAB 0.45)
- Monthly Pass (Regular Price) $25 (PAB 25)
- Gasoline (1 liter) $0.98 (PAB 0.98)
- Volkswagen Golf 1.4 90 KW (or equivalent new car) $24.3K (PAB 24.3K)
- Apartment (1 bedroom) in city centre $817 (PAB 817)
- Apartment (1 bedroom) outside of centre $547 (PAB 547)
- Apartment (3 bedrooms) in city centre $1.69K (PAB 1.69K)
- Apartment (3 bedrooms) outside of centre $1.03K (PAB 1.03K)
- Utilities (electricity, heating, water, garbage) for an 85m2 apartment $97 (PAB 97)
- Internet (60 Mbps or more, unlimited data, cable/ADSL) $49 (PAB 49)
- numb_34 $30 (PAB 30)
- 1 pair of jeans (Levis 501 or similar) $49 (PAB 49)
- 1 Summer Dress in a Chain Store (Zara, H&M,...) $39 (PAB 39)
- 1 pair of Nike running shoes or similar $79 (PAB 79)
- 1 pair of men's leather shoes $85 (PAB 85)
- Toyota Corolla 1.6l, 97kW Comfort (or equivalent new car) $20.2K (PAB 20.2K)
- Preschool (or Kindergarten), Private, Monthly for 1 Child $361 (PAB 361)
- Price per square meter for an apartment in the city center $2.34K (PAB 2.34K)
- International Primary School, Annually for 1 Child $8.24K (PAB 8.24K)
- Price per square meter for an apartment outside of city centre $1.4K (PAB 1.4K)
- Average Monthly Net Salary (After Tax) $793 (PAB 793)
- Mortgage annual interest rate in percentages (%) 6.2%
- Taxi starting fare (normal tariff) $2 (PAB 2)
- Taxi 1km (Normal Tariff) $1.8 (PAB 1.8)
- Taxi 1 hour waiting (normal tariff) $20 (PAB 20)
Price changes in previous years in Panama
Price changes in One Square Meter Of An Apartment In The Center over the years: 2010: $1.2K(PAB 1.2K), 2011: $1.43K(PAB 1.43K), 2013: $1.97K(PAB 1.97K), 2014: $1.77K(PAB 1.77K), 2015: $1.96K(PAB 1.96K), 2016: $2.11K(PAB 2.11K), 2017: $2.23K(PAB 2.23K), and 2018: $2.13K(PAB 2.13K)
Have earnings increased in Panama?
See the average salary in previous years in 2010: $900(PAB 900), 2011: $575(PAB 575), 2014: $780(PAB 780), 2015: $694(PAB 694), 2016: $720(PAB 720), 2017: $654(PAB 654), and 2018: $760(PAB 760)
Price changes in Fees over the years: 2010: $143(PAB 143), 2011: $125(PAB 125), 2013: $100(PAB 100), 2014: $57(PAB 57), 2015: $75(PAB 75), 2016: $91(PAB 91), 2017: $69(PAB 69), and 2018: $99(PAB 99)
Price changes in Internet over the years: 2010: $31(PAB 31), 2011: $35(PAB 35), 2013: $47(PAB 47), 2014: $38(PAB 38), 2015: $41(PAB 41), 2016: $38(PAB 38), 2017: $46(PAB 46), and 2018: $54(PAB 54)
Have prices changed in clothing stores in Panama in recent years?
For example, this is how the prices of jeans have changed in 2010: $45(PAB 45), 2011: $58(PAB 58), 2014: $51(PAB 51), 2015: $51(PAB 51), 2016: $49(PAB 49), 2017: $47(PAB 47), and 2018: $54(PAB 54)
Do you want to learn more about different prices? See the following comparison:
fees
$97 ($52 - $200)
by half less than in United States
bread
$2.3 ($1.3 - $3)
34% is less expensive than in United States
wine
$8 ($5 - $12)
by half less than in United States
Cola, Pepsi, Sprite, Mirinda
$1.6 ($1 - $3)
36% is less expensive than in United States
average earnings
$793
83% is less expensive than in United States
bananas
$1.3 ($0.9 - $3)
20% is less expensive than in United States