A multilayer electronic component includes a body including a dielectric layer and internal electrodes alternately stacked with the dielectric layer interposed therebetween; and an external electrode including a first electrode layer disposed externally on the body, connected to the internal electrodes, and including a conductive metal, a glass, a low melting point metal having a lower melting point than the conductive metal, and a pore, and a second electrode layer covering the first electrode layer and including a conductive metal, a glass, and a pore, wherein porosity of the first electrode layer is higher than porosity of the second electrode layer.