An electronic component includes an element body and an external electrode disposed on the element body. The external electrode includes a conductive resin layer, a solder plating layer arranged to constitute an outermost layer of the external electrode, and an intermediate plating layer disposed between the conductive resin layer and the solder plating layer. The intermediate plating layer has better solder leach resistance than metal contained in the conductive resin layer. An opening is formed in the intermediate plating layer. The solder plating layer is formed on the conductive resin layer through the opening.