Key Facts: Panama vs Taiwan Wages
- Panama Minimum Wage
- B/.1.69/hr ($1.69 USD)
- Taiwan Minimum Wage
- NT$190/hr ($6.11 USD)
- Panama Avg. Gross Monthly Salary
- B/.1,100 /mo ($1,100 USD)
- Taiwan Avg. Gross Monthly Salary
- NT$58,000 /mo ($1,864.95 USD)
- Data Sources
- Ministerio de Trabajo y Desarrollo Laboral (MITRADEL) (2026-02-24), Ministry of Labor (MOL), Republic of China (Taiwan) (2026-02-24)
Panama 
Taiwan
Updated 2026-02-24
The minimum wage in Panama is 72% lower than in Taiwan in USD terms, though average salaries tell a different story. Average salaries are lower in Panama at $1,100/mo compared to $1,865/mo in Taiwan.
Detailed Comparison
| Metric | Panama | Taiwan |
|---|---|---|
| Minimum wage /hr | B/.1.69 $1.69 | NT$190 $6.11 |
| Minimum wage /mo | B/.326 $326 | NT$28,590 $919.29 |
| Minimum wage /yr | B/.4,238 $4,238 | NT$343,080 $11,031.51 |
| Avg. gross salary /mo | B/.1,100 /mo $1,100 | NT$58,000 /mo $1,864.95 |
| Avg. net salary /mo | B/.990 /mo $990 | NT$50,500 /mo $1,623.79 |
| Median individual income /yr | B/.7,800 /yr $7,800 | NT$546,000 /yr $17,556.27 |
Percentage differences are based on USD equivalent values. Positive means Panama is higher.
Work Week
- Panama
-
48 hrs/wk standard
Max 48 hrs/wk
Overtime : 1.25x pay
Labour Code sets maximum ordinary workday at 8 hours (daytime), 7 hours (mixed shift), and 6 hours (nighttime). Weekly maximum 48 hours for day work. Overtime: 25% surcharge for first 3 hours, 50% thereafter on regular days; 50% on holidays; and 75% on rest days (Sundays). Night work (6pm-6am) earns a 50% surcharge.
- Taiwan
-
40 hrs/wk standard
Max 40 hrs/wk
Overtime : 1.34x pay
Labour Standards Act sets 40 hours/week, 8 hours/day. Two mandatory rest days per week (one fixed, one flexible). Overtime: first 2 hrs at 1.34x, next 2 hrs at 1.67x. Monthly overtime cap of 46 hours (may be extended to 54 hours with union/labour-management agreement, max 138 hrs/3 months).
• WAGE TRAJECTORY (USD/hr)
What This Means for Workers
A minimum wage worker in Panama earns 261% less per hour in USD terms than one in Taiwan. Standard work weeks differ: Panama mandates 48 hours while Taiwan mandates 40 hours. A minimum wage worker's weekly earnings in Panama are $81 vs $244 in Taiwan.
See this comparison from Taiwan's perspective: Taiwan vs Panama
Compare Panama with...
Panama vs United States $ 7.25 /hr 
Panama vs China ¥ 25 /hr 
Panama vs Germany € 13.9 /hr 
Panama vs United Kingdom £ 12.71 /hr 
Panama vs India ₹ 4,576 /mo 
Panama vs Japan ¥ 1,121 /hr 
Panama vs France € 12.02 /hr 
Panama vs South Korea ₩ 10,320 /hr 
Panama vs Canada C$ 18.1 /hr 
Panama vs Australia A$ 24.95 /hr 
Panama vs Brazil R$ 7.37 /hr 
Panama vs Russia ₽ 156.31 /hr 
Panama vs Mexico MX$ 9,583.52 /mo 
Panama vs Indonesia Rp 33,058 /hr 
Panama vs Netherlands € 14.71 /hr 
Panama vs Saudi Arabia ﷼ 23.08 /hr 
Panama vs Turkey ₺ 164.94 /hr 
Panama vs Switzerland 
Panama vs Poland zł 31.4 /hr 
Panama vs Thailand ฿ 10,400 /mo 
Panama vs Sweden 
Panama vs Argentina ARS 1,762 /hr 
Panama vs Singapore 
Panama vs Norway Frequently Asked Questions
Is the minimum wage higher in Panama or Taiwan?
In Panama, the minimum wage is B/.1.69/hr ($1.69 USD). In Taiwan, it is NT$190/hr ($6.11 USD). Taiwan has the higher rate by 261% in USD terms. That nominal gap does not account for local prices; see the purchasing power comparison below for a cost-of-living-adjusted view. Workers in Panama may retain a larger share of their earnings if prices there are lower.
How much less does the average worker earn in Panama compared to Taiwan?
The average gross salary in Panama is B/.1,100/mo ($1,100 USD), compared to NT$58,000/mo ($1,864.95 USD) in Taiwan. In USD terms, workers in Panama earn approximately 70% less. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Panama and Taiwan is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Taiwan earn more in nominal terms, though how far that income stretches depends on local prices in Panama.
How do work hours compare between Panama and Taiwan?
Panama has a longer standard work week at 48 hours, compared to 40 hours in Taiwan. Workers in Panama work 48 hours per week by law. Longer mandatory hours can offset a nominally higher wage; a worker in Taiwan working fewer hours may have comparable or better effective hourly earnings depending on the wage levels of each country. Total annual compensation depends on both the wage rate and the number of hours required.