An electrolytic capacitor that includes a cuboidal resin molding including a first end surface, a second end surface, a laminate of capacitor elements each including an anode and a cathode opposite to the anode, and a sealing resin sealing the laminate; a first external electrode on the first end surface of the resin molding and electrically connected to the anode exposed at the first end surface; and a second external electrode on the second end surface of the resin molding and electrically connected to the cathode exposed at the second end surface, wherein the first external electrode includes, sequentially from a side thereof adjacent to the first end surface of the resin molding, a first thermal spraying electrode layer and a second thermal spraying electrode layer in contact with the first thermal spraying electrode layer and having a higher porosity than the first thermal spraying electrode layer.