shrinkshrink /ʃrɪŋk/ verb (past tensepst shrank /ʃræŋk/, past participlepp shrunk /ʃrʌŋk/)1[intransitiveI] to become smaller in amount, size, or valueThe economy is expected to shrink slightly.
In the past decade, the number of employees has shrunk 30%.
Companies are battling for a share of the shrinking market.
2[transitiveT] to reduce the amount, size, or value of somethingAn 11% drop in imports helped shrink the trade deficit.