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Based on ERA-interim reanalysis dataset from 1979 to 2018, this study revisits the global and regional water cycle, as well as the water vapor transport between ocean basins. The surface of the Earth is divided into five continents and four ocean basins, water vapor budget, and its seasonal variability of each continent and ocean basin are calculated. The Indian Ocean and the Atlantic are major net water vapor source regions, ~ − 0.47 Sv and ~ −0.82 Sv, respectively, while the Pacific and the Arctic are weak net water vapor sink regions, ~ 0.04 Sv and ~ 0.06 Sv, respectively. A total of 85% of evaporation and 78% of precipitation occur at the ocean-atmosphere interface while 15% of evaporation and 22% of precipitation occur at the land-atmosphere interface. About 1.19 Sv water vapor is carried out from oceans to lands. The water vapor transport is about 0.07 Sv from the Indian Ocean to the Pacific, and 0.22 Sv from the Atlantic to the Pacific through the segments. At low latitudes, both the Atlantic and the Indian Ocean transport water vapor to the Pacific, with a total of 0.29 Sv. Those results update the estimate of global and regional water vapor budget. [ABSTRACT FROM AUTHOR]