Meaning of the word "in decline" in English

What does "in decline" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

in decline

US /ɪn dɪˈklaɪn/
UK /ɪn dɪˈklaɪn/

Phrase

decreasing in quantity, importance, or quality

Example:
The number of students choosing to study arts subjects is in decline.
The economy has been in decline for several years.