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The phrase "also declining" is correct and usable in written English.
It can be used to indicate that something is decreasing or diminishing in addition to another factor or item that is already mentioned.
Example: "The sales figures for the last quarter are concerning, as profits are also declining."
Alternatives: "also decreasing" or "also falling".
Exact(58)
Sales of newsweeklies are also declining.
Television ratings are also declining.
(They are also declining to give interviews during the strike).
But major populations of bigeye tuna are also declining.
Oil production is also declining in Russia, Norway and Iran, for a variety of reasons.
As the economy slows, the values of those acquired companies are also declining.
While marriage rates are also declining, those marriages that do occur are increasingly more stable.
He is also declining to resign, even as pressure mounts for him to do so.
Ms. O'Brien is also declining to cooperate with federal prosecutors, without receiving immunity from criminal prosecution.
This follows a similar trend in Europe, where marriage rates are also declining.
The jury agreed, also declining to find him guilty of manslaughter in the controversial case.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com