AbstractTropical easterly waves (TEWs) are a recurrent mode of low‐latitude weather that are often convectively coupled and impact precipitation extremes. Previous work has examined the development of TEWs and their associated precipitation for individual seasons or regional domains, but no studies exist that document the importance of TEW precipitation globally. This study quantifies the precipitation associated with TEWs across the entire tropics using satellite (Integrated Multi‐satellitE Retrievals for the Global Precipitation Measurement [IMERG]) and reanalysis (Modern‐Era Retrospective analysis for Research and Applications, Version 2 [MERRA‐2]) data. Traditional space‐time filtering of precipitation reveals a mostly similar climatological power distribution for westward traveling, synoptic period disturbances corresponding to TEWs within all data sets. Using objective tracking, we find that areas with maximum TEW frequency such as the North Atlantic, Equatorial Pacific, and Indian Ocean have the highest accumulation of TEW‐associated precipitation. TEWs account for at most 30% of total annual precipitation in regions where they commonly occur and 1%–5% over much of the tropics. Vertically collocated storms, where the 850 and 700 hPa tracks correspond with each other, have higher conditional rain rates and indicate that waves with vertical development produce stronger and more organized convection. We find similar regional patterns using MERRA‐2 precipitation and latent heating, although the importance and contribution of TEWs to the background are reduced compared to IMERG. While the broad pattern of TEW associated precipitation in MERRA‐2 is like observations, the underestimation of rainfall contributions from TEWs, coupled with occasional false alarms in reanalysis data, suggests that MERRA‐2 does not capture organized convection within TEWs correctly.