Updated
Overview
Costa Rica has 13% more people than Panama: 5.15 million against 4.57 million (2025).
Costa Rica's economy is 14% larger than Panama's, at $102.90B versus $90.46B.
Population
GDP (nominal)
GDP per capita
The full table
| Indicator | Costa Rica | Panama | Years | Factbook, Jan 2026 |
|---|---|---|---|---|
| Economy | ||||
| GDP (nominal) | Higher: $102.90B | $90.46B | 2025 | $95.35B / $86.26B |
| GDP per capita | Higher: $19,970 | $19,790 | 2025 | — / — |
| GDP growth | Higher: 4.6% | 4.4% | 2025 | — / — |
| Inflation | -0.1% | Lower: -0.2% | 2025 | -0.4% / 0.7% |
| Unemployment | Lower: 6.8% | 8.4% | 2025 | — / — |
| Price level (US=100) | 59 | 45 | 2025 | — / — |
| Avg monthly earnings | Higher: $1,205 | $929 | 2025 | — / — |
| Minimum wage | Higher: $696 | $482 | 2024 | — / — |
| Big Mac price | $7.00 | — | — | — / — |
| People | ||||
| Population | 5.15 million | 4.57 million | 2025 | 5.30 million / 4.54 million |
| Population growth | 0.4% | 1.2% | 2025 | — / — |
| Median age | 35.2 yrs | 30.3 yrs | 2025 | — / — |
| Fertility rate | 1.31 | 2.09 | 2025 | — / — |
| Life expectancy | Higher: 81.0 yrs | 79.8 yrs | 2024 | — / — |
| Urban population | 80% | 66% | 2025 | — / — |
| Internet users | Higher: 87% | 73% | 2024 | — / — |
| Geography | ||||
| Area | 51,100 km² | 75,417 km² | — | — / — |
| Population density | 100.8/km² | 60.6/km² | 2025 | — / — |
| Environment | ||||
| CO2 emissions | Lower: 8.76 Mt | 13 Mt | 2024 | — / — |
| CO2 per capita | Lower: 1.7 t | 2.8 t | 2024 | — / — |
| Military | ||||
| Military spending | $0 | — | 2024 | — / — |
| Military spending (% GDP) | — | 1.0% | — / 1999 | — / — |
| Armed forces personnel | 10,000 | 28,000 | 2020 | — / — |
Sources by row: World Bank WDI, IMF WEO, UN WPP 2024, ILOSTAT, The Economist. Emphasis marks the stronger figure where one direction is meaningfully better.
Reading the numbers
Economy
Both economies are growing at a similar pace (4.6% for Costa Rica, 4.4% for Panama).
Inflation is comparable in both: -0.1% in Costa Rica and -0.2% in Panama.
Day-to-day prices are noticeably lower in Panama: a price level of 45 versus 59 on a US=100 scale.
Average monthly earnings favour Costa Rica: $1,205 against $929 (ILOSTAT, latest available years).
People and society
Panama is the younger society: median age 30.3 versus 35.2 years.
Life expectancy is 1.2 years longer in Costa Rica (81.0 vs 79.8).
Costa Rica is considerably more urbanized: 80% of people live in cities, against 66%.
Internet adoption is higher in Costa Rica (87% vs 73% of the population).
Geography
By land area, Costa Rica is 32% smaller than Panama: 51,100 km² versus 75,417 km².
The two share a land border, which shapes their trade, migration, and security relationship.
Military
Panama fields the larger armed forces: 28,000 personnel against 10,000 (note: personnel data lags; observation years shown in the table).
Frequently asked
- Is Costa Rica bigger than Panama?
- Panama is larger by land area. Costa Rica covers 51,100 km² while Panama covers 75,417 km², so Panama is 48% larger than the other.
- Which has more people, Costa Rica or Panama?
- Costa Rica has the larger population: 5.15 million versus 4.57 million (World Bank, 2025).
- Is Costa Rica richer than Panama?
- They are effectively level on GDP per capita: $19,970 for Costa Rica against $19,790 for Panama, a gap too small to call. Total GDP tells the same story: $102.90B for Costa Rica versus $90.46B for Panama.