Mongolia is about 21 times bigger than Panama.

Panama is approximately 75,420 sq km, while Mongolia is approximately 1,564,116 sq km, making Mongolia 1,974% larger than Panama. Meanwhile, the population of Panama is ~4.3 million people (1.1 million fewer people live in Mongolia).
This to-scale comparison of Panama vs. Mongolia uses the Mercator projection, which distorts the size of regions near the poles. Learn more.

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