Cost of living comparison

Mongolia

compared to

Panama

Panama vs. Mongolia Cost of Living Summary

Panama is 28.8% more expensive than Mongolia overall.

Restaurants: pay 59.8% more in Panama
Groceries: pay 39.8% more in Panama
Transportation: pay 18.5% more in Panama
Housing: pay 50.9% more in Panama
Childcare: pay 23.8% less in Panama
Entertainment and Sports: pay 23.8% more in Panama
Clothing: pay 38.4% less in Panama

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

Planning a move to Panama? Get up to 5 free, no-obligation quotes from vetted international movers. Get free quotes →

Panama vs. Mongolia Cost Breakdown

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

Display currency: USD

pay 59.8% more for restaurants

	Mongolia	Panama
Basic meal with drink at inexpensive restaurant	$5.56 MNT20,000.00	$8.20 PAB8.20	+47.6%
Fast food combo meal McDonalds, or similar	$5.56 MNT20,000.00	$8.90 PAB8.90	+60.1%
Bottle of Coca-Cola (11 fl. oz)	$0.86 MNT3,083.33	$1.41 PAB1.41	+64.3%
Bottle of water (11 fl. oz)	$0.59 MNT2,125.00	$1.30 PAB1.30	+121.0%
Average			+59.8%

Mongolia vs. Panama - Cost of restaurants

Improve prices · Change currency (USD)

pay 39.8% more for groceries

	Mongolia	Panama
Bread 1 loaf	$1.00 MNT3,588.33	$2.28 PAB2.28	+129.2%
Local cheese (8 oz)	$6.18 MNT22,248.75	$6.18 PAB6.18
Milk (1 gallon)	$5.49 MNT19,758.34	$7.09 PAB7.09	+29.1%
Eggs 1 dozen	$2.10 MNT7,573.96	$2.56 PAB2.56	+21.5%
Boneless chicken breast (1 lb)	$2.22 MNT7,975.68	$3.42 PAB3.42	+54.4%
Apples (1 lb)	$1.39 MNT5,003.76	$1.86 PAB1.86	+33.6%
Bananas (1 lb)	$1.09 MNT3,926.41	$0.59 PAB0.59	-45.8%
Oranges (1 lb)	$1.69 MNT6,091.75	$1.76 PAB1.76	+4.0%
Tomatoes (1 lb)	$1.37 MNT4,944.16	$1.67 PAB1.67	+21.7%
Potatoes (1 lb)	$0.33 MNT1,188.41	$1.09 PAB1.09	+230.9%
Onions (1 lb)	$0.48 MNT1,730.24	$1.14 PAB1.14	+137.6%
Average			+39.8%

Mongolia vs. Panama - Cost of groceries

Improve prices · Change currency (USD)

pay 18.5% more for transportation

	Mongolia	Panama
Gasoline (1 gallon)	$4.32 MNT15,549.41	$4.34 PAB4.34	+0.4%
Monthly public transit pass	$16.67 MNT60,000.00	$23.00 PAB23.00	+38.0%
New Volkswagen Golf 1.4 (standard edition)	$26,896.36 MNT97M	$23,920.67 PAB23,920.67	-11.1%
Taxi trip in downtown area (5 miles)	$4.86 MNT17,500.00	$16.62 PAB16.62	+241.8%
Average			+18.5%

Mongolia vs. Panama - Cost of transportation

Improve prices · Change currency (USD)

pay 50.9% more for housing

	Mongolia	Panama
Internet connection 50 mbps or faster, cable/dsl	$13.63 MNT49,062.50	$49.81 PAB49.81	+265.4%
1-Bedroom apartment in downtown area	$569.30 MNT2M	$789.50 PAB789.50	+38.7%
1-Bedroom apartment outside city center	$444.50 MNT2M	$614.84 PAB614.84	+38.3%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$54.38 MNT196K	$96.53 PAB96.53	+77.5%
Average			+50.9%

Mongolia vs. Panama - Cost of housing

Improve prices · Change currency (USD)

pay 23.8% less for childcare

	Mongolia	Panama
Private preschool for 1 child, monthly	$817.79 MNT3M	$543.33 PAB543.33	-33.6%
Middle school for 1 child, two semesters	$8,262.71 MNT30M	$7,213.83 PAB7,213.83	-12.7%
Average			-23.8%

Mongolia vs. Panama - Cost of childcare

Improve prices · Change currency (USD)

pay 23.8% more for entertainment and sports

	Mongolia	Panama
Domestic/local beer (1 pint)	$2.36 MNT8,500.00	$2.21 PAB2.21	-6.4%
Cappuccino in mid-range area	$2.42 MNT8,692.31	$3.73 PAB3.73	+54.4%
Pack of cigarettes Marlboro or similar	$1.68 MNT6,044.89	$5.29 PAB5.29	+215.1%
Monthly membership at local gym	$67.73 MNT244K	$50.91 PAB50.91	-24.8%
Movie ticket to theater/cinema	$4.17 MNT15,000.00	$6.13 PAB6.13	+47.2%
Average			+23.8%

Mongolia vs. Panama - Cost of entertainment and sports

Improve prices · Change currency (USD)

pay 38.4% less for clothing

	Mongolia	Panama
Regular jeans Levi's brand	$81.73 MNT294K	$45.56 PAB45.56	-44.3%
Regular dress from H&M or similar store	$45.38 MNT163K	$36.71 PAB36.71	-19.1%
Running shoes Nike or Adidas	$102.93 MNT370K	$69.81 PAB69.81	-32.2%
Men's business shoes (leather)	$187.55 MNT675K	$88.33 PAB88.33	-52.9%
Average			-38.4%

Mongolia vs. Panama - Cost of clothing

Improve prices · Change currency (USD)

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

Compare further: Mongolia vs. Panama

Salary Calculator · Free tool

What salary would you need in Panama?

Quality of Life Comparison · 20 statistics

Make 2.8 times more money in Panama

Size Comparison · See true size

Mongolia is about 21 times bigger than Panama.

Moving from Mongolia to Panama · Cost, visas & climate

Compare cost of living, salary and climate.

More cost comparisons

Mongolia vs.

South Korea

Mongolia vs.

Russia

Mongolia vs.

Czech Republic

Mongolia vs.

Sweden

Mongolia vs.

Australia

Mongolia vs.

Austria

Mongolia vs.

Hungary

Mongolia vs.

France

Share this

Compare by city

For example, try comparing the cost of living in Ulaanbaatar vs. Panama City

Help us improve these prices

MyLifeElsewhere is a collaborative project. Please enter price information for your location to help assist us in making these comparisons more accurate. Learn more

Add prices for Mongolia

Add prices for Panama

Ask the Elsewhere Community

Join the Elsewhere community and ask a question about Panama or Mongolia. It's a free, question-and-answer based forum to discuss what life is like in countries and cities around the world.