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The reanalysis products and derived products, ERA5 (Copernicus Climate Change Service, 2018) and W5E5 (WATCH Forcing Data (WFD) methodology applied to ERA5) (LANGE ET AL., 2021) have been recently published initiating a new phase of scientific research utilizing these datasets. ERA5 and W5E5 offer the possibility to reduce insecurities in model results through their improved quality compared to previous climate reanalyses (CUCCHI ET AL., 2020). The suitability of either climate forcing as input for the hydrological model WaterGAP and the influence of the models specific calibration routine has been evaluated with four model experiments. The model was validated by analysing the models ability to produce reasonable values for global water balance components and to reproduce observed discharge in 1427 basins as well as total water storage anomalies in 143 basins using well established efficiency metrics. Bias correction of W5E5 was found to lead to more global realistic mean precipitation and consequently discharge and AET values. In an uncalibrated model setup ERA5 results in better performances across all efficiency metrics. Model results produced with W5E5 as climate input were strongly improved through calibration ultimately leading to the best performances out of all four model experiments. However, model performances considerably improved through calibration with both climate forcings hence calibration was found to have the strongest effect on model performance. Furthermore, spatial differences in performance of either forcing were identified. Snow-dominated regions show an overall better performance with ERA5, while wetter and warmer regions are better represented with W5E5. Finally, it can be concluded that W5E5 should be preferred as climate input for impact modelling; however, depending on the spatial scale and region ERA5 should at least be considered, in particular for snow-dominated regions.