An electronic component includes an element body and external electrodes. The element body includes a dielectric and an internal electrode. Each of the external electrodes includes a base layer formed on multiple surfaces of the element body and an electrically-conducting material layer formed on the base layer, the base layer including a metal and co-material particles dispersed in the metal and being connected to the internal electrode. The co-material particles at an interface surface between the base layer and the electrically-conducting material layer have edges covered with the metal at the interface surface. The electrically-conducting material layer is in contact with the co-material particles at the interface surface and the metal covering the edges of the co-material particles at the interface surface.