The latest data from the International Trade Administration shows an uptick in imports and exports to and from the territory in 2011 - positive economic growth for the Virgin Islands - but most of the activity came from the HOVENSA oil refinery.

In 2010, the territory imported $10.5 billion worth of goods. In 2011, that number grew to $12.2 billion. The territory's number one import was petroleum and coal products from Venezuela. Following Venezuela was Gabon, Azerbaijan, Norway, and Niger among many others - all exporting petroleum and coal products to Virgin Islands as well.

"Only a small fraction of all U.S. companies export, and of those that do, 58 percent sell to only one foreign market. There's plenty of room to grow more exports," Rachel Duran, International Trade specialist of the U.S. Commercial Service in San Juan, said in a prepared statement.