Panama is about 1.2 times bigger than Latvia.

Latvia is approximately 64,589 sq km, while Panama is approximately 75,420 sq km, making Panama 17% larger than Latvia. Meanwhile, the population of Latvia is ~1.8 million people (2.5 million more people live in Panama).
This to-scale comparison of Latvia vs. Panama uses the Mercator projection, which distorts the size of regions near the poles. Learn more.

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