Country size comparison
Iceland is about 1.4 times bigger than Panama.
Panama is approximately 75,420 sq km, while Iceland is approximately 103,000 sq km, making Iceland 37% larger than Panama. Meanwhile, the population of Panama is ~4.3 million people (4.0 million fewer people live in Iceland).
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This to-scale map shows a size comparison of Panama compared to Iceland. For more details, see an in-depth quality of life comparison of Iceland vs. Panama using our country comparison tool.