This paper presents a detailed energy budget of the M2 tide over the world ocean, based on the hydrodynamic solution FES94.1. The global energy input by the astronomical forcing, deduced from the (2,2) spherical harmonics of the M2 FES94.1 solution, is 2.35 TW. A quarter of this input takes place over the South Atlantic Ocean. This energy is dissipated by bottom friction over the main continental shelves, among which 40% over the North Atlantic Ocean. The Pacific Ocean, the Indian Ocean and the South Atlantic Ocean receive more energy than they dissipate. By contrast the Atlantic Ocean and the Arctic Ocean show a large deficit, compensated by a net influx of energy coming from the other basins. One third of the total M2 energy input by astronomical forcing over the world ocean flows northward through the Equatorial Atlantic. Detailed energy dissipation estimates are computed over the different areas of dissipation and compared to the previous estimates.¿ 1997 American Geophysical Union