The key indices of the national economy are summarized based on the input-output model for water utilization efficiency, and their rationalities are discussed. It is regarded that the direct water-output coefficient and the total water-output coefficient to describe the water utilization efficiency of the national economy are irrational. The cluster analysis of various industrial sectors of Jiangsu Province in 2007 is performed according to four indices of the direct water utilization coefficient, the total water utilization coefficient, the water multiplier and the input and output of virtual water resources, and the water utilization efficiency in Jiangsu Province in 2007 is analyzed. The results show that the role and position of the virtual water strategy in the industrial sectors are determined by the function of the multiplier of their water to a great extent. For the formulation of the long-term regional development plan, the direct water utilization and the impact of the indirect water utilization should be both considered in order to balance the development of regional economy and the development and utilization of water resources.