Multilayer electronic component

A multilayer electronic component includes a body including a dielectric layer and first and second internal electrodes alternately disposed with the dielectric layer interposed therebetween, a first external electrode disposed on the body and connected to the first internal electrode, and a second external electrode disposed on the body and connected to the second internal electrode, wherein the first and second external electrodes include a first electrode layer disposed on the body and including one or more of copper (Cu), nickel (Ni), and alloys thereof and a second electrode layer disposed on the first electrode layer, including silver (Ag) and further including one or more of palladium (Pd), platinum (Pt), and gold (Au), wherein the first electrode layer does not include glass and an average thickness of the first electrode layer is 1 μm or more and 10 μm or less.