The phrase "and shrinking part of" is correct and usable in written English.
It can be used to describe a portion of something that is decreasing in size or significance over time.
Example: "The budget allocated for the project is becoming an increasingly shrinking part of our overall financial resources."
Alternatives: "and diminishing segment of" or "and decreasing portion of".
Blue-collar jobs, long a small and shrinking part of the U.S. economy, are now growing at a faster clip than those in the nation's much larger service economy.
It is an old play out of an outdated, 20th century Republican political playbook, and while it may excite a small and shrinking part of Florida's Cuban electorate, it will not be a terribly effective tool for McCain to reach the increasingly Democratic and non-Cuban Hispanic population of Florida.
By the early 80's, racetracks were faced with declining attendance and a shrinking part of the gambling dollar.
Rip 'em up and start again; there's a wide world out there, and Europe is a shrinking part of it.
Advertising as it has long been known — television commercials, newspaper ads and the like — is a shrinking part of the marketing equation.
"We discovered that draperies actually were a shrinking part of the window treatment market," Christina said, "and we also discovered that, for that type of business to be successful as a franchise, we had to be able to sell the franchises to clones of Mark". It turned out that most people did not have his decorating experience and sense of design aesthetics.
Some judges say jury trials are a shrinking part of the legal system because lawyers distrust them.
Other studies suggest that perhaps 18 million people hunt occasionally, but in any case, hunters represent a shrinking part of the population.
Court statistics show, for example, that jury trials are a rapidly shrinking part of federal court caseloads, with only 4.3percentt of federal criminal charges now ending in jury verdicts, down from 10.4percentt in 1988.
