An electronic component according to the present invention is an electronic component including: a ceramic element body including an internal electrode; and an external electrode formed on an outer surface of the ceramic element body. The external electrode includes: a first electrode layer electrically connected to at least a part of the internal electrode; and a second electrode layer formed on an outside of the first electrode layer. The first electrode layer has a first conductor region containing copper, and the second electrode layer has a second conductor region including a matrix phase containing silver and palladium and copper particles dispersed in the matrix phase.