Panama  Minimum Wage, Labor Law, and Employment Data Sheet Panama Minimum Wage Rate 2024

Appx. Yearly Minimum Wage
$4,140.00 USD
Rank by Min. Wage
48 / 197
Gross National Product
$9,131.00 USD

Panama has a government-mandated minimum wage, and no worker in Panama can be paid less then this mandatory minimum rate of pay. Employers in Panama who fail to pay the Minimum Wage may be subject to punishment by Panama's government.

What is the Panama Minimum Wage?

Panama's Minimum Wage is the lowest amount a worker can be legally paid for his work. Most countries have a nation-wide minimum wage that all workers must be paid.

The Panama minimum wage rate ranges from 1.22 to 2.36 Panamanian balboas per hour,depending on the region and sector. The agricultural sector has the lowest minimum and the constuction sector has the highest. Panama's minimum wage was last changed in 1-Jan-2012.

How does Panama's minimum wage compare to the minimum wage in other countries?

Panama's yearly minimum wage is $4,140.00 in International Currency. International Currency is a measure of currency based on the value of the United States dollar in 2009. There are 48 countries with a higher Minimum Wage then Panama, and Panama is in the top 24 percent of all countries based on the yearly minimum wage rate.

Facts and statistics about Panama

Panama is a country located in the Central America region with a population of 2,856,000 and an average life span of 75.5 years.

Local Name Panamá
Gross National Product $9,131.00
Government Type Republic
Current Leader Mireya Elisa Moscoso Rodríguez
Independence Year 1903
Continent & Region North America, Central America
Surface Area 75,517 square kilometers
ISO 3166 Country Code PA

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