Generally, a fishery is an entity engaged in raising or harvesting fish which is determined by some authority to be a fishery. According to the FAO, "...a fishery is an activity leading to harvesting of fish. It may involve capture of wild fish or raising of fish through aquaculture." It is typically defined in terms of the "people involved, species or type of fish, area of water or seabed, method of fishing, class of boats, purpose of the activities or a combination of the foregoing features".The definition often includes a combination of fish and fishers in a region, the latter fishing for similar species with similar gear types. Some government and private organizations, especially those focusing on recreational fishing include in their definitions not only the fishers, but the fish and habitats upon which the fish depend.
Directly or indirectly, the livelihood of over 500 million people in developing countries depends on fisheries and aquaculture. Overfishing, including the taking of fish beyond sustainable levels, is reducing fish stocks and employment in many world regions. A report by Prince Charles' International Sustainability Unit, the New York-based Environmental Defence Fund and 50in10 published in July 2014 estimated global fisheries were adding US$270 billion a year to global GDP, but by full implementation of sustainable fishing, that figure could rise by as much as US$50 billion. In additional to commercial and subsistence fishing, recreational (sport) fishing is popular and economically important in many regions.