In an electronic component, a terminal electrode has a thickest portion and a part thinner than the thickest portion. Accordingly, an increase in solder fillet forming region occurs when the electronic component is solder-mounted onto a predetermined mounting substrate. In the electronic component, mounting strength is improved as a result of the increase in solder fillet forming region. In addition, in the electronic component, the thickest portion overlaps a bump electrode in a direction orthogonal to the lower surface of an element body. Accordingly, the impact that is applied to the electronic component during the mounting onto the mounting substrate is reduced and the impact resistance of the electronic component is improved.