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Approximately 505,000 km 3 (121,000 cu mi) of water falls as precipitation each year, 398,000 km 3 (95,000 cu mi) of it over the oceans. [10] [15] The rain on land contains 107,000 km 3 (26,000 cu mi) of water per year and a snowing only 1,000 km 3 (240 cu mi). [15] 78% of global precipitation occurs over the ocean. [11]