Reference Value Report: Living Wage Report and 2025 Update for Rural Panama
This report updates the Anker Living Wage Reference Value for rural Panama for the year 2025. The updated Anker Gross Living Wage for 2025 is USD 615 per month, which is composed of a Net Living Wage of USD 547, plus a contribution to social security and educational insurance of USD 68. In the original Reference Value report, the Gross Living Wage for 2020 was USD 569, consisting of a Net Living Wage of USD 513 plus a social security contribution of USD 56. In this report, we use the most recent inflation data to update the living wage: From June 2020 to June 2025 cumulative inflation was 6.7%. It is important to mention that between June 2024 and June 2025 the general price level in Panama experienced a slight deflationary trend, with an annual inflation rate of -0.44%. Social security contributions and income tax were calculated based on tax laws in force as of June 2025.
2025 Reference Value Update Report: Living Wage Report for Rural Panama
Abstract
This report updates the Anker Living Wage Reference Value for rural Panama for the year 2025. The updated Anker Gross Living Wage for 2025 is USD 615 per month, which is composed of a Net Living Wage of USD 547, plus a contribution to social security and educational insurance of USD 68. In the original Reference Value report, the Gross Living Wage for 2020 was USD 569, consisting of a Net Living Wage of USD 513 plus a social security contribution of USD 56. In this report, we use the most recent inflation data to update the living wage: From June 2020 to June 2025 cumulative inflation was 6.7%. It is important to mention that between June 2024 and June 2025 the general price level in Panama experienced a slight deflationary trend, with an annual inflation rate of -0.44%. Social security contributions and income tax were calculated based on tax laws in force as of June 2025.
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Original Report
2020 Reference Value Report: Living Wage Report for Rural Panama
Abstract
The Anker Living Wage Reference Value for 2020 for rural Panama is USD 569, including tax, per month with a 95% confidence interval around it from USD 505 to USD 640. This is the wage required for workers to be able to afford a basic but decent living standard in a typical rural area of Panama. The Reference Value is comprised of a net living wage (i.e. take-home pay) of USD 513 per month plus USD 56 per month which would be deducted by law from pay per month for social security. Workers earning a living wage would not have to pay income tax, since workers who earn an annual amount of USD 11,000 or less are not required to pay personal income tax.
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