According to the National Institute of Statistics and Informatics (INEI), most economic sectors performed well, with the exception of mining, a key sector in the world's third-largest copper producer.

The Peruvian economy expanded 2.68% year-on-year in February due to improved performance in most sectors, according to official data released Tuesday, although the figure was below analysts' expectations.

The National Institute of Statistics and Informatics (INEI) confirmed that most economic sectors performed well, with the exception of mining, a key sector in the world's third-largest copper producer.

Analysts surveyed by Reuters projected 3.5% growth in the second month of the year, after the local economy grew 4.07% in January.

The National Institute of Statistics and Census (INEI) reported that the Peruvian economy grew 3.38% between January and February, compared to 2.32% growth in the same period last year. The economy expanded 3.5% year-over-year in the 12 months through February, it added.

Among the main sectors, fishing grew 24.64% year-on-year in February, while construction and manufacturing grew 5.91% and 1.94%, respectively.

The mining and hydrocarbons sector fell 1.36% year-on-year, mainly due to lower production of gold, zinc, iron, and lead.

In early April, Economy Minister José Salardi announced that he was maintaining his economic growth projection of 4% for this year, in response to a question at a press conference about whether the new global US tariffs would change the ministry's latest estimates.

Adrián Armas, head of economic research at Peru's Central Bank, said last week that the Peruvian economy would face a moderate hit from the tariffs and that the country likely grew around 4% in the first quarter.

Peru's economy, which is expected to rank among the fastest-growing countries in Latin America this year, expanded by 3.3% last year, compared to a contraction of 0.4% the previous year.