An electronic component has an organic member between two transparent substrates, in which outer peripheral portions of the two transparent substrates are bonded by a sealing material containing to melting glass. The low melting glass contains vanadium oxide, tellurium oxide, iron oxide and phosphoric acid, and satisfies the following relations (1) and (2) in terms of oxides. The sealing material is formed of a sealing material paste which contains the low melting glass, a resin binder and a solvent, the low melting glass containing vanadium oxide, tellurium oxide, iron oxide and phosphoric acid, and satisfies the following relations (1) and (2) in terms of the oxides. Thereby, thermal damages to an organic element or an organic material contained in the electronic component can be reduced and an electronic component having a glass bonding layer of high reliability can be produced efficiently. V2O5+TeO2+Fe2O+P2O5≧90(mass %)  (1) V2O5>TeO2>Fe2O3>P2O5 (mass %)  (2)