1. An industry or economic segment that is experiencing a decline in size, revenue, employment, or market share
The manufacturing sector is a shrinking sector in many developed economies.
O setor de manufatura é um setor em contração em muitas economias desenvolvidas.
2. A business area facing reduced demand, decreased productivity, or loss of competitiveness
Retail has become a shrinking sector due to the rise of e-commerce.
O varejo se tornou um setor em contração devido ao crescimento do comércio eletrônico.