A multilayer electronic component includes: a body including a dielectric layer and a plurality of internal electrodes stacked on each other interposing the dielectric layer therebetween, and external electrodes respectively disposed on the body, wherein the external electrode includes: a first electrode layer connected to the internal electrode; and a second electrode layer disposed on the first electrode layer, and including a conductive portion including an silver (Ag)-tin (Sn) alloy and a resin, and a ratio of an area of the Ag—Sn alloy to an area of the conductive portion satisfies 3 to 50% in at least a portion of a cross-section of the second electrode layer.