Natural diamonds, for comparison
Lab-grown and mined diamonds are chemically the same but sold as different products. These charts show the mined side of the market.
Natural diamonds cost many times more per carat than lab-grown, and the gap keeps widening as lab-grown prices fall. Below: the U.S. import price per carat of cut natural diamonds divided by India's export price per carat of gem-quality polished lab-grown, monthly from April 2023. The two prices come from different countries' customs and stone mixes, so read the trend more than the exact level.
Natural under 0.5 carat vs lab-grown
Apr 2023: 1.8x. Aug 2026: 4.8x.
Source: U.S. Census Bureau (HTS 7102.39.00.10); India Ministry of Commerce
Show the numbers
| Month | Natural over 0.5 ct / lab-grown | Natural under 0.5 ct / lab-grown |
|---|---|---|
| Aug 2026 | 72.3x | 4.8x |
| Jul 2026 | 95.6x | 4.2x |
| Jun 2026 | 96.8x | 3.5x |
| May 2026 | 62.5x | 5.7x |
| Apr 2026 | 82.9x | 3.7x |
| Mar 2026 | 91.8x | 4.7x |
| Feb 2026 | 81.4x | 5.4x |
| Jan 2026 | 90.2x | 3.5x |
| Dec 2025 | 99.4x | 7.2x |
| Nov 2025 | 106.0x | 7.0x |
| Oct 2025 | 96.7x | 6.2x |
| Sep 2025 | 80.4x | 4.4x |
| Aug 2025 | 58.8x | 4.6x |
| Jul 2025 | 43.7x | 5.0x |
| Jun 2025 | 58.7x | 4.6x |
| May 2025 | 67.8x | 4.6x |
| Apr 2025 | 39.9x | 4.1x |
| Mar 2025 | 43.5x | 3.9x |
| Feb 2025 | 49.3x | 3.9x |
| Jan 2025 | 42.4x | 2.8x |
| Dec 2024 | 52.6x | 3.4x |
| Nov 2024 | 44.7x | 3.1x |
| Oct 2024 | 40.3x | 3.1x |
| Sep 2024 | 25.2x | 3.0x |
| Aug 2024 | 35.2x | 2.9x |
| Jul 2024 | 33.6x | 2.8x |
| Jun 2024 | 28.0x | 2.8x |
| May 2024 | 27.9x | 2.8x |
| Apr 2024 | 28.0x | 2.6x |
| Mar 2024 | 27.6x | 2.2x |
| Feb 2024 | 31.3x | 2.2x |
| Jan 2024 | 29.2x | 1.8x |
| Dec 2023 | 28.8x | 2.3x |
| Nov 2023 | 21.9x | 2.0x |
| Oct 2023 | 25.2x | 2.2x |
| Sep 2023 | 27.9x | 1.9x |
| Aug 2023 | 19.9x | 1.7x |
| Jul 2023 | 24.8x | 1.8x |
| Jun 2023 | 27.3x | 1.6x |
| May 2023 | 23.0x | 1.3x |
| Apr 2023 | 23.8x | 1.8x |
Natural over 0.5 carat vs lab-grown
Apr 2023: 23.8x. Aug 2026: 72.3x.
Source: U.S. Census Bureau (HTS 7102.39.00.50); India Ministry of Commerce
World natural rough production, carats
Source: Kimberley Process public statistics
Show the numbers
| Year | Carats | Value | Per carat |
|---|---|---|---|
| 2025 | 98.82M | $9.23B | $93.43 |
| 2024 | 107.90M | $9.53B | $88.35 |
| 2023 | 112.06M | $12.89B | $115.04 |
| 2022 | 120.66M | $15.96B | $132.30 |
| 2021 | 118.74M | $12.92B | $108.83 |
| 2020 | 107.26M | $9.24B | $86.12 |
| 2019 | 138.14M | $13.57B | $98.24 |
| 2018 | 149.46M | $14.50B | $97.00 |
| 2017 | 150.94M | $14.12B | $93.58 |
| 2016 | 126.38M | $12.27B | $97.08 |
| 2015 | 128.29M | $14.24B | $111.00 |
| 2014 | 125.42M | $15.63B | $124.59 |
| 2013 | 129.84M | $13.58B | $104.60 |
| 2012 | 127.97M | $12.65B | $98.82 |
| 2011 | 122.83M | $14.07B | $114.51 |
| 2010 | 128.32M | $11.39B | $88.79 |
| 2009 | 120.22M | $8.26B | $68.72 |
| 2008 | 162.91M | $12.73B | $78.16 |
| 2007 | 167.92M | $11.94B | $71.08 |
| 2006 | 175.92M | $12.05B | $68.47 |
| 2005 | 176.70M | $11.61B | $65.68 |
| 2004 | 159.13M | $10.22B | $64.23 |
World natural rough production, value
Source: Kimberley Process public statistics
Natural rough: value per carat
World production value divided by carats.
Source: Kimberley Process public statistics
U.S. import price, cut natural over 0.5 carat
Per carat; quarterly candles from monthly averages.
Rose in the periodFell in the periodMoving averageCarats imported
Source: U.S. Census Bureau (HTS 7102.39.00.50)