Cost of Living: Panama vs Germany

Detailed comparison of living costs and expenses between Panama and Germany.

Data updated: September 2026

Quick Comparison Summary

In simple terms, living in Panama is 13.0% cheaper than Germany. The biggest difference is in Salaries And Financing, where costs are 74.6% lower. This means that for every $100 you spend in Germany, you would spend about $87 in Panama for the same standard of living.

Key Differences

Salaries And Financing 74.6%

Panama is 74.6% cheaper

Household Utilities 68.4%

Panama is 68.4% cheaper

Property Prices 67.4%

Panama is 67.4% cheaper

Cost of Living Index

Overall Difference 13.0%

Panama is 13.0% cheaper than Germany

Most Expensive Categories

  • Sports And Leisure +21.9%
  • Mobile and Internet +0.5%

Is Panama cheaper than Germany?

Yes, Panama is cheaper than Germany

Overall, living costs in Panama are 13.0% lower than in Germany.

Where Panama is cheaper:

  • Salaries And Financing 74.6% cheaper
  • Household Utilities 68.4% cheaper
  • Property Prices 67.4% cheaper

Where Panama is more expensive:

  • Sports And Leisure 21.9% more expensive
  • Mobile and Internet 0.5% more expensive

Practical Examples

Basic restaurant meal

Panama: 10.00 $ Germany: 17.07 $
41.4% cheaper in Panama

Monthly public transport pass

Panama: 25.00 $ Germany: 62.61 $
60.1% cheaper in Panama

1 liter of milk

Panama: 1.81 $ Germany: 1.26 $
43.7% more expensive in Panama

1 liter of gasoline

Panama: 0.93 $ Germany: 1.97 $
52.8% cheaper in Panama

Summary

Based on comprehensive cost of living data, Panama is indeed cheaper than Germany. You would save approximately 13.0% on living expenses by choosing Panama over Germany. This includes all major expense categories such as housing, food, transportation, and utilities.

Overall Cost of Living Comparison

13.0%

Panama is 13.0% cheaper than Germany

Restaurants

30.6%

Panama is 30.6% cheaper than Germany in this category

Markets

42.2%

Panama is 42.2% cheaper than Germany in this category

Other Expenses

38.1%

Panama is 38.1% cheaper than Germany in this category

Transportation

38.8%

Panama is 38.8% cheaper than Germany in this category

Household Utilities

68.4%

Panama is 68.4% cheaper than Germany in this category

Mobile and Internet

0.5%

Panama is 0.5% more expensive than Germany in this category

Sports And Leisure

21.9%

Panama is 21.9% more expensive than Germany in this category

Childcare

28.2%

Panama is 28.2% cheaper than Germany in this category

Clothing And Shoes

22.7%

Panama is 22.7% cheaper than Germany in this category

Rent Per Month

6.8%

Panama is 6.8% cheaper than Germany in this category

Property Prices

67.4%

Panama is 67.4% cheaper than Germany in this category

Salaries And Financing

74.6%

Panama is 74.6% cheaper than Germany in this category

Detailed Cost Comparison

Item Panama Germany Difference
Basic Restaurant Meal 10.00 $ 17.07 $ 41.4%
Panama is 41.4% cheaper
Three-Course Dinner for Two in Mid Range Restaurant 50.00 $ 73.99 $ 32.4%
Panama is 32.4% cheaper
McDonald's Fast Food Combo Meal 7.49 $ 11.38 $ 34.2%
Panama is 34.2% cheaper
Regular Cappuccino 3.47 $ 3.99 $ 13.0%
Panama is 13.0% cheaper
Soft Drink (330ml) 1.48 $ 3.28 $ 54.9%
Panama is 54.9% cheaper
Bottled Water (330ml) 1.22 $ 2.95 $ 58.6%
Panama is 58.6% cheaper
Bottled Water (1.5L) 1.56 $ 1.07 $ 45.8%
Panama is 45.8% more expensive
Local Beer (500ml) 4.55 $ 5.69 $ 20.0%
Panama is 20.0% cheaper
Imported Beer (330ml) 1.80 $ 1.74 $ 3.4%
Panama is 3.4% more expensive
Mid-Range Wine 7.97 $ 9.11 $ 12.5%
Panama is 12.5% cheaper
Local Beer (500ml bottle) 2.22 $ 1.98 $ 12.1%
Panama is 12.1% more expensive
Milk (1L) 1.81 $ 1.26 $ 43.7%
Panama is 43.7% more expensive
Fresh Bread (500g) 2.44 $ 2.19 $ 11.4%
Panama is 11.4% more expensive
White Rice (1kg) 2.30 $ 3.33 $ 30.9%
Panama is 30.9% cheaper
Eggs (12 pack) 2.67 $ 3.79 $ 29.6%
Panama is 29.6% cheaper
Local Cheese (1kg) 11.70 $ 14.58 $ 19.8%
Panama is 19.8% cheaper
Chicken Breast (1kg) 7.26 $ 13.95 $ 48.0%
Panama is 48.0% cheaper
Beef (1kg) 9.17 $ 19.57 $ 53.1%
Panama is 53.1% cheaper
Apples (1kg) 4.04 $ 3.16 $ 27.8%
Panama is 27.8% more expensive
Bananas (1kg) 1.32 $ 1.81 $ 27.1%
Panama is 27.1% cheaper
Oranges (1kg) 2.81 $ 2.25 $ 24.9%
Panama is 24.9% more expensive
Tomatoes (1kg) 2.93 $ 4.77 $ 38.6%
Panama is 38.6% cheaper
Potatoes (1kg) 2.10 $ 1.56 $ 34.6%
Panama is 34.6% more expensive
Onions (1kg) 2.31 $ 1.59 $ 45.3%
Panama is 45.3% more expensive
Lettuce (1 head) 2.08 $ 1.86 $ 11.8%
Panama is 11.8% more expensive
Monthly Transit Pass 25.00 $ 62.61 $ 60.1%
Panama is 60.1% cheaper
Cigarettes (20 pack) 5.92 $ 9.56 $ 38.1%
Panama is 38.1% cheaper
Single Bus/Train Ticket 0.55 $ 3.64 $ 84.9%
Panama is 84.9% cheaper
Taxi Base Fare 2.00 $ 5.58 $ 64.2%
Panama is 64.2% cheaper
Taxi per Kilometer 2.00 $ 2.85 $ 29.8%
Panama is 29.8% cheaper
Taxi Waiting Hourly Rate 21.00 $ 37.56 $ 44.1%
Panama is 44.1% cheaper
Gasoline (1L) 0.93 $ 1.97 $ 52.8%
Panama is 52.8% cheaper
New Economy Car 20,000.00 $ 30,939.70 $ 35.4%
Panama is 35.4% cheaper
New Mid-Range Car 21,464.58 $ 36,770.68 $ 41.6%
Panama is 41.6% cheaper
Monthly Utilities (80m² size) 109.00 $ 344.76 $ 68.4%
Panama is 68.4% cheaper
10 GB Mobile Plan with Data 29.47 $ 27.11 $ 8.7%
Panama is 8.7% more expensive
High-Speed Internet (> 60 Mbps) 48.89 $ 50.88 $ 3.9%
Panama is 3.9% cheaper
Gym Membership 52.30 $ 39.89 $ 31.1%
Panama is 31.1% more expensive
Tennis Court (Weekend) 35.71 $ 24.36 $ 46.6%
Panama is 46.6% more expensive
Movie Ticket 7.00 $ 13.66 $ 48.8%
Panama is 48.8% cheaper
Private Preschool (Full Day) 446.67 $ 465.43 $ 4.0%
Panama is 4.0% cheaper
International School (Yearly) 10,425.00 $ 14,669.30 $ 28.9%
Panama is 28.9% cheaper
1 Pair of Jeans 48.21 $ 91.97 $ 47.6%
Panama is 47.6% cheaper
1 Summer Dress 41.15 $ 43.30 $ 5.0%
Panama is 5.0% cheaper
1 Pair of Running Shoes 83.67 $ 100.63 $ 16.9%
Panama is 16.9% cheaper
1 Pair of Business Shoes 110.45 $ 130.63 $ 15.4%
Panama is 15.4% cheaper
1-Bedroom Apartment (City Center) 914.84 $ 1,014.84 $ 9.9%
Panama is 9.9% cheaper
1-Bedroom Apartment (Suburbs) 698.62 $ 764.76 $ 8.6%
Panama is 8.6% cheaper
3-Bedroom Apartment (City Center) 1,778.87 $ 1,887.97 $ 5.8%
Panama is 5.8% cheaper
3-Bedroom Apartment (Suburbs) 1,355.77 $ 1,429.32 $ 5.1%
Panama is 5.1% cheaper
Apartment Price (City Center) per m² 2,080.50 $ 6,242.76 $ 66.7%
Panama is 66.7% cheaper
Apartment Price (Suburbs) per m² 1,545.31 $ 4,879.58 $ 68.3%
Panama is 68.3% cheaper
Average Monthly Salary (after tax) 826.28 $ 3,276.32 $ 74.8%
Panama is 74.8% cheaper
20-Year Fixed Mortgage Rate 6.30 3.98 58.3%
Panama is 58.3% more expensive

Cost of Living Calculator

Calculate how your current expenses would change if you moved to Germany. Enter your monthly expenses in Panama to see the equivalent costs.

Housing

Food & Dining

Transportation

Other Expenses

Our Methodology

Our cost of living comparisons are based on a robust methodology that combines multiple data sources and regular updates to ensure accuracy:

Data Collection

  • Regular price surveys conducted in major cities
  • Official government statistics and economic indicators
  • User-contributed data from expatriates and local residents
  • Real estate market reports and rental price indices
  • Consumer price indices and inflation data

Calculation Methods

  • Prices are normalized to USD for consistent comparison
  • Exchange rates are updated monthly
  • Regional price variations are weighted by population
  • Seasonal fluctuations are accounted for in the averages
  • Quality of life factors are considered in the overall assessment

Quality Assurance

  • Data is verified by local experts
  • Regular cross-checking with multiple sources
  • User feedback is incorporated into updates
  • Statistical outliers are identified and reviewed
  • Methodology is reviewed quarterly

Note: While we strive for accuracy, cost of living data can vary significantly within countries and cities. These comparisons should be used as a general guide, and we recommend conducting additional research for specific locations.

Lifestyle Impact

Understanding the cost of living differences between Panama and Germany goes beyond just numbers. Here's how these differences might affect your daily life:

Daily Living

  • Grocery shopping habits and meal planning
  • Public transportation usage vs. car ownership
  • Frequency of dining out and entertainment
  • Healthcare access and insurance coverage
  • Housing choices and neighborhood selection

Long-term Planning

  • Savings and investment strategies
  • Retirement planning considerations
  • Education costs for children
  • Property ownership opportunities
  • Business and career development

Quality of Life Considerations

While cost of living is important, it's just one aspect of quality of life. Consider also:

  • Healthcare system quality and accessibility
  • Education system standards
  • Public safety and security
  • Environmental quality
  • Cultural and recreational opportunities
  • Work-life balance norms

Making the Most of Your Budget

Tips for adapting to cost of living differences:

  • Research local shopping habits and markets
  • Learn about public transportation options
  • Understand local tax systems and benefits
  • Explore community resources and discounts
  • Network with locals for insider tips

Local Insights for Panama vs Germany

While both countries have similar overall costs, there are nuanced differences in how money is spent on daily necessities.

Cultural Cost Differences

Panama

  • Basic groceries tend to be more expensive, suggesting different shopping patterns.

Germany

  • Lower fuel costs indicate different transportation infrastructure.

Seasonal Cost Variations

Both countries experience moderate seasonal variations in living costs, with prices typically higher during peak tourist seasons and major holidays.

Explore more

Cost of living in Panama Cost of living in Germany

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