World trade in lab-grown diamonds
Rough stones are grown mostly in China, cut and polished mostly in India, and sold worldwide. Each step below uses that country's own customs records and period, so the three columns are not meant to add up to each other.
From grower to cutter to market
1. China exports rough
Calendar 2025, China customs
2. India imports rough
FY 2025-26, India customs
3. India exports polished
FY 2025-26, India customs
Sources: General Administration of Customs of China; India Ministry of Commerce (DGCI&S TRADESTAT). India's fiscal year runs April to March. Hong Kong and the UAE are trading hubs: stones bought there were mostly grown elsewhere.
Show the numbers
| Step | Partner | Value | Carats |
|---|---|---|---|
| China rough exports 2025 | Hong Kong | $275.2M | 33.96M carats · $8.10/ct |
| China rough exports 2025 | UAE | $10.8M | 462,050 carats · $23.28/ct |
| China rough exports 2025 | India | $10.4M | 826,530 carats · $12.61/ct |
| China rough exports 2025 | Germany | $3.5M | 89,275 carats · $39.25/ct |
| China rough exports 2025 | South Korea | $845K | 45,985 carats · $18.37/ct |
| China rough exports 2025 | Japan | $581K | 66,400 carats · $8.74/ct |
| India rough imports FY 2025-26 | Hong Kong | $590.8M | 44.39M carats · $13.31/ct |
| India rough imports FY 2025-26 | UAE | $370.1M | 26.29M carats · $14.08/ct |
| India rough imports FY 2025-26 | Thailand | $11.2M | 572,306 carats · $19.60/ct |
| India rough imports FY 2025-26 | Belgium | $6.7M | 385,596 carats · $17.45/ct |
| India rough imports FY 2025-26 | United States | $3.1M | 248,849 carats · $12.66/ct |
| India rough imports FY 2025-26 | China | $2.0M | 108,813 carats · $18.01/ct |
| India polished exports FY 2025-26 | Hong Kong | $412.8M | 6.29M carats · $65.60/ct |
| India polished exports FY 2025-26 | United States | $297.7M | 3.50M carats · $84.99/ct |
| India polished exports FY 2025-26 | UAE | $128.8M | 1.62M carats · $79.44/ct |
| India polished exports FY 2025-26 | Israel | $39.5M | 549,133 carats · $71.84/ct |
| India polished exports FY 2025-26 | Belgium | $32.8M | 372,179 carats · $88.24/ct |
| India polished exports FY 2025-26 | Thailand | $32.0M | 467,398 carats · $68.40/ct |
| India polished exports FY 2025-26 | South Korea | $29.7M | 487,922 carats · $60.81/ct |
| India polished exports FY 2025-26 | United Kingdom | $26.2M | 227,440 carats · $115.20/ct |
| India polished exports FY 2025-26 | China | $22.3M | 408,946 carats · $54.58/ct |
| India polished exports FY 2025-26 | Canada | $21.1M | 236,523 carats · $89.00/ct |
What India's polished stones fetch, by destination
FY 2025-26, average export value per carat. Differences reflect the size and quality each market buys.
Source: India Ministry of Commerce (DGCI&S TRADESTAT)
Largest exporters of polished lab-grown, 2025
As each country reported to the UN. Recent years are revised upward as late reports arrive.
Source: UN Comtrade (HS 710491)
Show the numbers
| Product | Exporter | Value |
|---|---|---|
| Polished (HS 710491) | India | $1.19B |
| Polished (HS 710491) | Hong Kong | $283.8M |
| Polished (HS 710491) | United States | $122.6M |
| Polished (HS 710491) | Thailand | $87.8M |
| Polished (HS 710491) | Netherlands | $57.6M |
| Polished (HS 710491) | China | $41.0M |
| Polished (HS 710491) | Belgium | $17.2M |
| Polished (HS 710491) | Canada | $9.8M |
| Rough (HS 710421) | Hong Kong | $601.4M |
| Rough (HS 710421) | China | $295.4M |
| Rough (HS 710421) | United States | $166.1M |
| Rough (HS 710421) | India | $57.5M |
| Rough (HS 710421) | Thailand | $27.8M |
| Rough (HS 710421) | Belgium | $10.0M |
| Rough (HS 710421) | Germany | $6.5M |
| Rough (HS 710421) | Japan | $4.1M |
Largest exporters of rough lab-grown, 2025
As each country reported to the UN.
Source: UN Comtrade (HS 710421)