The pair had been collecting cray pots when they disappeared.

Ian Matheson, 67, died in waters off Cape Jaffa in South Australia while collecting cray pots with his best friend.

A fisherman has died and another remains missing in waters off South Australia’s coastline.

Ian Matheson and his best friend Garry had been collecting cray pots off Cape Jaffa, about 316km south of Adelaide, on Tuesday.

An alarm was raised about 4pm when they failed to return.

Police immediately launched a search of the area with help from Water Operations Police, SES and PolAir.

The body of Matheson, aged 67 and from Victoria, was found in the water on Tuesday night.

Police will resume their search for Garry on Wednesday morning.

Drowning deaths have surged across the country, with new statistics revealing deaths among those over 65 have jumped by 48 per cent.

Late last month a man drowned after being caught in rip at a beach in Crescent Head, NSW, while another man died after being pulled from a tidal swimming pool in Sydney Harbour.