Biodesic 2011 Bioeconomy Update reports that "within the United States, more than 50% of cropland is now planted in genetically modified (GM) seed resulting in 2010 revenues of nearly $110 billion." Biodesic is an engineering, design and consulting firm based in Seattle, Washington.
For 2010, total revenues from GM products including those of biologics and industrial biotechnology exceeded $300 billion or the equivalent of more than 2% of Gross Domestic Product (GDP). The report further notes that "revenues from GM crops are growing rapidly and are substantially larger than generally reported."
GM corn, soy, and cotton earned $100 billion in U.S. farm scale revenues in 2010. GM sugar beets contributed over $1.5 billion while GM papaya, canola, and other crops gave another billion dollars. "Continued increases in GM crop acreage in the next few years will certainly raise the total, with revenues from GM alfalfa contributing $1-2 billion dollars next year," the report added.
The full report can be downloaded at http://www.biodesic.com/library/Biodesic_2011_Bioeconomy_Update.pdf.