A multilayer electronic component includes a capacitor body including a plurality of dielectric layers and a plurality of first and second internal electrodes and having first to sixth surfaces, the first and second internal electrodes being exposed through the third and fourth surfaces, respectively; first and second external electrodes including first and second connected portions respectively disposed on the third and fourth surfaces of the capacitor body and first and second band portions respectively extending from the first and second connected portions to portions of the first surface of the capacitor body, respectively; a first connection terminal disposed on the first band portion; and a second connection terminal disposed on the second band portion, wherein 0.05≤A1/A1≤0.504, where A1 is an area of the first or second connection terminal in a thickness-width direction, and A2 is an area of the first or second band portion in a width-length direction.