Cost of Living Comparison

  1. Cost of Living
  2. Panama
  3. Iceland
  4. Comparison
PAB
COMPARED TO
ISK

Iceland is 73.4% more expensive than Panama.

If you lived in Iceland instead of Panama, you would:
local_dining

pay 89.5% more for restaurants

  Panama help_outline Iceland help_outline  
Basic meal with drink at inexpensive restaurant $6.67
PAB6.67
$14.34
kr1,505
+115.2%
Fast food combo meal
McDonalds, or similar
 $6.33
PAB6.33
$11.42
kr1,199
+80.3%
Bottle of Coca-Cola (11 fl. oz) $1.12
PAB1.12
$2.04
kr214
+81.4%
Bottle of water (11 fl. oz) $1.05
PAB1.05
$1.89
kr199
+81.1%
Average +89.5%
Panama vs. Iceland - Cost of restaurants
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local_grocery_store

pay 26.4% more for groceries

  Panama help_outline Iceland help_outline  
Bread
1 loaf
 $2.03
PAB2.03
$2.42
kr254
+19.2%
Local cheese (8 oz) $6.10
PAB6.10
$5.86
kr615
-4.0%
Milk (1 gallon) $5.74
PAB5.74
$4.44
kr466
-22.7%
Eggs
1 dozen
 $1.94
PAB1.94
$4.41
kr462
+127.3%
Boneless chicken breast (1 lb) $2.60
PAB2.60
$6.36
kr668
+144.8%
Apples (1 lb) $1.30
PAB1.30
$0.99
kr104
-23.9%
Bananas (1 lb) $0.70
PAB0.70
$0.79
kr83
+12.6%
Oranges (1 lb) $1.04
PAB1.04
$0.90
kr95
-13.1%
Tomatoes (1 lb) $1.14
PAB1.14
$1.82
kr191
+59.5%
Potatoes (1 lb) $0.92
PAB0.92
$0.94
kr98
+1.6%
Onions (1 lb) $0.86
PAB0.86
$0.77
kr81
-10.7%
Average +26.4%
Panama vs. Iceland - Cost of groceries
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drive_eta

pay 80.5% more for transportation

  Panama help_outline Iceland help_outline  
Gasoline (1 gallon) $3.16
PAB3.16
$5.73
kr601
+81.3%
Monthly public transit pass $30.14
PAB30.14
$86.76
kr9,106
+187.8%
New Volkswagen Golf 1.4 (standard edition) $17,333.33
PAB17,333.33
$24,134.09
kr2,532,873
+39.2%
Taxi trip in downtown area (5 miles) $17.83
PAB17.83
$20.31
kr2,132
+13.9%
Average +80.5%
Panama vs. Iceland - Cost of transportation
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home

pay 60.4% more for housing

  Panama help_outline Iceland help_outline  
Internet connection
50 mbps or faster, cable/dsl
 $41.46
PAB41.46
$54.47
kr5,717
+31.4%
1-Bedroom apartment in downtown area $633.63
PAB633.63
$1,185.29
kr124,396
+87.1%
1-Bedroom apartment outside city center $427.02
PAB427.02
$993.19
kr104,236
+132.6%
Utilities for two (700 sq ft apartment)
including electric, gas, water, heating
 $63.57
PAB63.57
$57.62
kr6,047
-9.4%
Average +60.4%
Panama vs. Iceland - Cost of housing
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child_care

pay 26.1% more for childcare

  Panama help_outline Iceland help_outline  
Private preschool for 1 child, monthly $154.80
PAB154.80
$223.70
kr23,477
+44.5%
Middle school for 1 child, two semesters $3,901.45
PAB3,901.45
$4,200.86
kr440,880
+7.7%
Average +26.1%
Panama vs. Iceland - Cost of childcare
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gamepad

pay 2.2 times more for entertainment and sports

  Panama help_outline Iceland help_outline  
Domestic/local beer (1 pint) $1.68
PAB1.68
$7.65
kr803
+354.5%
Cappuccino in mid-range area $2.84
PAB2.84
$3.83
kr402
+35.2%
Pack of cigarettes
Marlboro or similar
 $5.14
PAB5.14
$9.68
kr1,016
+88.4%
Monthly membership at local gym $42.99
PAB42.99
$49.80
kr5,227
+15.8%
Movie ticket to theater/cinema $5.17
PAB5.17
$11.02
kr1,157
+113.4%
Average +121.5%
Panama vs. Iceland - Cost of entertainment and sports
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store

pay 2.1 times more for clothing

  Panama help_outline Iceland help_outline  
Regular jeans
Levi's brand
 $38.30
PAB38.30
$99.26
kr10,417
+159.1%
Regular dress
from H&M or similar store
 $32.42
PAB32.42
$52.22
kr5,481
+61.1%
Running shoes
Nike or Adidas
 $62.07
PAB62.07
$127.71
kr13,403
+105.7%
Men's business shoes (leather) $74.14
PAB74.14
$157.42
kr16,521
+112.3%
Average +109.5%
Panama vs. Iceland - Cost of clothing
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The statistics used to build this comparison are calculated using data from users just like you. We average the price of thousands of data points entered by users across the world. Learn more about our data sources. Page last updated: May 2020
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