A multilayer electronic component includes an element body having an internal electrode layer and a dielectric layer. These are substantially parallel to a plane including a first axis and a second axis and are alternately laminated along a third axis direction. Side surfaces facing each other in the first axis direction are respectively equipped with an insulating layer. End surfaces facing each other in the second axis direction are respectively equipped with an external electrode. A main component of the insulating layer is constituted by glass containing Si at 25 wt % or more. The external electrode includes glass containing at least Si. The external electrode covers an end portion in the second axial direction of the insulating layer. A diffusing layer is partially present at least at a bonding portion of the insulating layer with the external electrode in the side surface.