An electronic component includes an element body having a dielectric and an inner electrode. The electronic component also includes at least one external electrode. Each external electrode includes a base layer, a plating layer and a covering layer. The base layer is formed on a plurality of surfaces of the element body to have a plurality of faces facing different directions. The base layer is connected to the inner electrode, and contains a metal. The plating layer is formed on a mounting face of the base layer and on a side face of the base layer to which the inner electrode is connected. The covering layer is formed on at least a portion of a face of the base layer, which is opposite to the mounting face of the base layer. A surface of the covering layer is less wettable than a surface of the plating layer by solder.