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Socioeconomic drought is one of the most frequent natural disasters in the world and is closely related to human life. The main cause of socioeconomic drought is the contradiction between water supply and demand; hence, as local reservoirs play a major role in improving water supply and coping with extreme climate, it is reasonable to estimate socioeconomic drought based on reservoir operations. The multivariate standardized reliability and resilience index (MSRRI) is utilized to evaluate socioeconomic drought, considering the characteristics of reservoir management and storage water resources. Therefore, with the MSRRI, this study takes the Heihe River Basin in northwestern China, which is controlled by two reservoirs dominating the upstream and downstream regions, as a case study to reveal the evolution characteristics of socioeconomic drought in the basin and the external impacts of climate variability. The results showed that (1) the drought intensity in the up-midstream region is stronger than that in the downstream region; in view of the hysteresis in the downstream region, the occurrence of drought in the up-midstream region could be regarded as an early warning to implement preventive measures in the downstream region; (2) an increasing trend in socioeconomic drought throughout the basin exists on both monthly and annual scales, which indicates that the increasing possibility of drought should be effectively addressed; (3) cross wavelet analysis indicated that the large-scale climate indices contribute to the variations in the socioeconomic droughts throughout the basin, indicating that climate variability may provide a reference for managers to deal with socioeconomic drought in the HRB. [ABSTRACT FROM AUTHOR]