Cost of Living Comparison Between Canada and Panama 
| Indices Difference |  |
|---|---|
| Consumer Prices in Panama are 28.9% lower than in Canada (without rent) | |
| Consumer Prices Including Rent in Panama are 32.5% lower than in Canada | |
| Rent Prices in Panama are 40.1% lower than in Canada | |
| Restaurant Prices in Panama are 31.7% lower than in Canada | |
| Groceries Prices in Panama are 32.2% lower than in Canada | |
| Local Purchasing Power in Panama is 59.1% lower than in Canada | |
Restaurants | Canada Edit |
Panama Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
25.00 C$ (18.28 $) |
13.68 C$ (10.00 $) |
-45.3 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
100.00 C$ (73.12 $) |
82.06 C$ (60.00 $) |
-17.9 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
14.75 C$ (10.78 $) |
10.94 C$ (8.00 $) |
-25.8 % |
| Domestic Beer (1 pint draught) |
8.00 C$ (5.85 $) |
2.74 C$ (2.00 $) |
-65.8 % |
| Imported Beer (12 oz small bottle) |
8.00 C$ (5.85 $) |
4.27 C$ (3.12 $) |
-46.6 % |
| Cappuccino (regular) |
5.11 C$ (3.73 $) |
4.77 C$ (3.49 $) |
-6.6 % |
| Coke/Pepsi (12 oz small bottle) |
2.88 C$ (2.11 $) |
2.14 C$ (1.57 $) |
-25.7 % |
| Water (12 oz small bottle) |
2.35 C$ (1.72 $) |
1.67 C$ (1.22 $) |
-29.0 % |
Markets | Canada Edit |
Panama Edit | |
| Milk (regular), (1 gallon) |
11.16 C$ (8.16 $) |
8.95 C$ (6.55 $) |
-19.8 % |
| Loaf of Fresh White Bread (1 lb) |
3.27 C$ (2.39 $) |
2.88 C$ (2.11 $) |
-12.0 % |
| Rice (white), (1 lb) |
2.28 C$ (1.67 $) |
1.30 C$ (0.95 $) |
-43.3 % |
| Eggs (regular) (12) |
4.74 C$ (3.47 $) |
3.39 C$ (2.48 $) |
-28.4 % |
| Local Cheese (1 lb) |
7.13 C$ (5.21 $) |
6.44 C$ (4.71 $) |
-9.6 % |
| Chicken Fillets (1 lb) |
7.57 C$ (5.54 $) |
4.47 C$ (3.27 $) |
-40.9 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
8.97 C$ (6.56 $) |
5.13 C$ (3.75 $) |
-42.7 % |
| Apples (1 lb) |
2.60 C$ (1.90 $) |
1.99 C$ (1.46 $) |
-23.4 % |
| Banana (1 lb) |
0.89 C$ (0.65 $) |
0.83 C$ (0.60 $) |
-6.7 % |
| Oranges (1 lb) |
2.36 C$ (1.73 $) |
1.72 C$ (1.26 $) |
-27.0 % |
| Tomato (1 lb) |
2.60 C$ (1.90 $) |
1.82 C$ (1.33 $) |
-29.9 % |
| Potato (1 lb) |
1.63 C$ (1.19 $) |
1.29 C$ (0.95 $) |
-20.7 % |
| Onion (1 lb) |
1.64 C$ (1.20 $) |
1.31 C$ (0.96 $) |
-20.2 % |
| Lettuce (1 head) |
3.55 C$ (2.60 $) |
2.64 C$ (1.93 $) |
-25.7 % |
| Water (1.5 liter bottle) |
2.48 C$ (1.82 $) |
2.07 C$ (1.51 $) |
-16.6 % |
| Bottle of Wine (Mid-Range) |
18.00 C$ (13.16 $) |
12.31 C$ (9.00 $) |
-31.6 % |
| Domestic Beer (0.5 liter bottle) |
4.08 C$ (2.98 $) |
1.57 C$ (1.15 $) |
-61.5 % |
| Imported Beer (12 oz small bottle) |
4.39 C$ (3.21 $) |
2.57 C$ (1.88 $) |
-41.5 % |
| Cigarettes 20 Pack (Marlboro) |
19.00 C$ (13.89 $) |
7.69 C$ (5.62 $) |
-59.5 % |
Transportation | Canada Edit |
Panama Edit | |
| One-way Ticket (Local Transport) |
3.50 C$ (2.56 $) |
0.68 C$ (0.50 $) |
-80.5 % |
| Monthly Pass (Regular Price) |
105.00 C$ (76.77 $) |
34.19 C$ (25.00 $) |
-67.4 % |
| Taxi Start (Normal Tariff) |
4.50 C$ (3.29 $) |
2.74 C$ (2.00 $) |
-39.2 % |
| Taxi 1 mile (Normal Tariff) |
3.30 C$ (2.41 $) |
3.85 C$ (2.82 $) |
+16.8 % |
| Taxi 1hour Waiting (Normal Tariff) |
39.00 C$ (28.52 $) |
27.35 C$ (20.00 $) |
-29.9 % |
| Gasoline (1 gallon) |
6.04 C$ (4.42 $) |
5.08 C$ (3.71 $) |
-16.0 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
33,978.00 C$ (24,844.08 $) |
33,165.51 C$ (24,250.00 $) |
-2.4 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
27,814.60 C$ (20,337.51 $) |
27,610.75 C$ (20,188.46 $) |
-0.7 % |
Utilities (Monthly) | Canada Edit |
Panama Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
206.50 C$ (150.99 $) |
135.08 C$ (98.77 $) |
-34.6 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
65.01 C$ (47.53 $) |
40.63 C$ (29.71 $) |
-37.5 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
85.04 C$ (62.18 $) |
67.10 C$ (49.07 $) |
-21.1 % |
Sports And Leisure | Canada Edit |
Panama Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
57.24 C$ (41.85 $) |
65.02 C$ (47.54 $) |
+13.6 % |
| Tennis Court Rent (1 Hour on Weekend) |
25.90 C$ (18.94 $) |
43.08 C$ (31.50 $) |
+66.3 % |
| Cinema, International Release, 1 Seat |
15.50 C$ (11.33 $) |
9.57 C$ (7.00 $) |
-38.2 % |
Childcare | Canada Edit |
Panama Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
1,116.68 C$ (816.50 $) |
493.87 C$ (361.11 $) |
-55.8 % |
| International Primary School, Yearly for 1 Child |
17,440.10 C$ (12,751.88 $) |
11,270.26 C$ (8,240.60 $) |
-35.4 % |
Clothing And Shoes | Canada Edit |
Panama Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
78.88 C$ (57.67 $) |
66.95 C$ (48.95 $) |
-15.1 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
55.53 C$ (40.60 $) |
53.70 C$ (39.26 $) |
-3.3 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
120.64 C$ (88.21 $) |
107.75 C$ (78.78 $) |
-10.7 % |
| 1 Pair of Men Leather Business Shoes |
148.83 C$ (108.82 $) |
116.61 C$ (85.26 $) |
-21.6 % |
Rent Per Month | Canada Edit |
Panama Edit | |
| Apartment (1 bedroom) in City Centre |
1,916.46 C$ (1,401.28 $) |
1,088.06 C$ (795.57 $) |
-43.2 % |
| Apartment (1 bedroom) Outside of Centre |
1,686.09 C$ (1,232.84 $) |
739.81 C$ (540.94 $) |
-56.1 % |
| Apartment (3 bedrooms) in City Centre |
3,109.62 C$ (2,273.69 $) |
2,397.66 C$ (1,753.12 $) |
-22.9 % |
| Apartment (3 bedrooms) Outside of Centre |
2,628.76 C$ (1,922.10 $) |
1,368.91 C$ (1,000.92 $) |
-47.9 % |
Buy Apartment Price | Canada Edit |
Panama Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
898.22 C$ (656.76 $) |
297.09 C$ (217.23 $) |
-66.9 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
616.54 C$ (450.80 $) |
177.88 C$ (130.06 $) |
-71.1 % |
Salaries And Financing | Canada Edit |
Panama Edit | |
| Average Monthly Net Salary (After Tax) |
3,925.62 C$ (2,870.34 $) |
1,083.99 C$ (792.59 $) |
-72.4 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 7.00 | 6.20 | -11.4 % |
| Last update: | May 2024 | April 2024 | |
| Contributors in the past 12 months: | 4418 | 117 |
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