Your sentence is correct except for the missing 'r' in resource and, as Eliot said, the comma after good. but you could write it another way to make it flow better and have less pauses. As a natural resource, water has become a much sought-after economic good, the management of which is likely to become a global problem.

Correct, except for a missing comma! Water , a natural resource , has become a much sought-after economic good, the management of which is likely to become a global problem .