This study focuses on water budget estimation using satellite-only data products over 10 continental river basins. A non-satellite merged product (which includes model, in situ and re-analysis data) is also used to evaluate each satellite precipitation (P) and evapotranspiration (ET) product. The water budget estimated from the satellite-only products is found not to close the budget over the river basins. A water budget closure scheme is employed where the budget non-closure error from each water budget component is estimated, and closure is obtained by redistributing the non-closure error using these error statistics. It is found that the satellite precipitation product carries most of the non-closure error.