Cost of living comparison

Latvia

compared to

Panama

Panama vs. Latvia Cost of Living Summary

Panama is 19.5% more expensive than Latvia overall.

Restaurants: pay 12.3% less in Panama
Groceries: pay 46.7% more in Panama
Transportation: pay 23.7% less in Panama
Housing: pay 78.4% more in Panama
Childcare: pay 28.0% less in Panama
Entertainment and Sports: pay 18.0% less in Panama
Clothing: pay 19.7% less in Panama

The cost of housing and groceries in Panama are more expensive than in Latvia. Expenses including childcare, transportation, clothing, entertainment and sports, and restaurants are lower in Panama. Notably, housing is significantly more expensive in Panama.

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Panama vs. Latvia Cost Breakdown

If you lived in Panama instead of Latvia, you would:

Display currency: USD

pay 12.3% less for restaurants

	Latvia	Panama
Basic meal with drink at inexpensive restaurant	$11.94 €10.63	$8.20 PAB8.20	-31.3%
Fast food combo meal McDonalds, or similar	$8.15 €7.25	$8.90 PAB8.90	+9.2%
Bottle of Coca-Cola (11 fl. oz)	$1.51 €1.35	$1.41 PAB1.41	-6.9%
Bottle of water (11 fl. oz)	$1.14 €1.01	$1.30 PAB1.30	+14.8%
Average			-12.3%

Latvia vs. Panama - Cost of restaurants

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pay 46.7% more for groceries

	Latvia	Panama
Bread 1 loaf	$1.29 €1.15	$2.28 PAB2.28	+77.3%
Local cheese (8 oz)	$5.22 €4.65	$6.18 PAB6.18	+18.4%
Milk (1 gallon)	$4.36 €3.88	$7.09 PAB7.09	+62.4%
Eggs 1 dozen	$3.19 €2.84	$2.56 PAB2.56	-19.9%
Boneless chicken breast (1 lb)	$3.48 €3.09	$3.42 PAB3.42	-1.6%
Apples (1 lb)	$0.85 €0.76	$1.86 PAB1.86	+118.1%
Bananas (1 lb)	$0.80 €0.71	$0.59 PAB0.59	-26.3%
Oranges (1 lb)	$1.09 €0.97	$1.76 PAB1.76	+61.7%
Tomatoes (1 lb)	$1.31 €1.16	$1.67 PAB1.67	+28.1%
Potatoes (1 lb)	$0.39 €0.35	$1.09 PAB1.09	+177.0%
Onions (1 lb)	$0.42 €0.37	$1.14 PAB1.14	+173.3%
Average			+46.7%

Latvia vs. Panama - Cost of groceries

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pay 23.7% less for transportation

	Latvia	Panama
Gasoline (1 gallon)	$7.10 €6.32	$4.34 PAB4.34	-38.9%
Monthly public transit pass	$38.26 €34.05	$23.00 PAB23.00	-39.9%
New Volkswagen Golf 1.4 (standard edition)	$26,434.34 €23,527.52	$23,920.67 PAB23,920.67	-9.5%
Taxi trip in downtown area (5 miles)	$9.18 €8.17	$16.62 PAB16.62	+81.0%
Average			-23.7%

Latvia vs. Panama - Cost of transportation

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pay 78.4% more for housing

	Latvia	Panama
Internet connection 50 mbps or faster, cable/dsl	$17.53 €15.60	$49.81 PAB49.81	+184.2%
1-Bedroom apartment in downtown area	$356.67 €317.45	$789.50 PAB789.50	+121.4%
1-Bedroom apartment outside city center	$264.56 €235.47	$614.84 PAB614.84	+132.4%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$227.24 €202.25	$96.53 PAB96.53	-57.5%
Average			+78.4%

Latvia vs. Panama - Cost of housing

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pay 28.0% less for childcare

	Latvia	Panama
Private preschool for 1 child, monthly	$488.72 €434.98	$543.33 PAB543.33	+11.2%
Middle school for 1 child, two semesters	$15,452.35 €13,753.15	$7,213.83 PAB7,213.83	-53.3%
Average			-28.0%

Latvia vs. Panama - Cost of childcare

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pay 18.0% less for entertainment and sports

	Latvia	Panama
Domestic/local beer (1 pint)	$4.53 €4.03	$2.21 PAB2.21	-51.2%
Cappuccino in mid-range area	$3.14 €2.79	$3.73 PAB3.73	+18.9%
Pack of cigarettes Marlboro or similar	$6.10 €5.43	$5.29 PAB5.29	-13.3%
Monthly membership at local gym	$42.36 €37.70	$50.91 PAB50.91	+20.2%
Movie ticket to theater/cinema	$9.96 €8.87	$6.13 PAB6.13	-38.4%
Average			-18.0%

Latvia vs. Panama - Cost of entertainment and sports

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pay 19.7% less for clothing

	Latvia	Panama
Regular jeans Levi's brand	$66.25 €58.97	$45.56 PAB45.56	-31.2%
Regular dress from H&M or similar store	$39.10 €34.80	$36.71 PAB36.71	-6.1%
Running shoes Nike or Adidas	$77.76 €69.21	$69.81 PAB69.81	-10.2%
Men's business shoes (leather)	$123.17 €109.63	$88.33 PAB88.33	-28.3%
Average			-19.7%

Latvia vs. Panama - Cost of clothing

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We average the price of thousands of data points entered by users across the world. Sources: MyLifeElsewhere's cost-of-living dataset (prices updated October 2026). How we calculate this

Compare further: Latvia vs. Panama

Salary Calculator · Free tool

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Quality of Life Comparison · 21 statistics

Be 27.2% more likely to be unemployed in Panama

Size Comparison · See true size

Latvia is about 1.2 times smaller than Panama.

Moving from Latvia to Panama · Cost, visas & climate

Compare cost of living, salary and climate.

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