Fewer and fewer Japanese students are studying abroad recently.
There are several reasons for this.
First, the population of Japan has been decreasing. So, it is natural that the number of Japanese students studying abroad has been decreasing as well.
Second, studying abroad usually costs a lot of money. However, the Japanese economy has been struggling ( sluggish / declining ) for a long time. Even though some Japanese students strongly wish to study abroad, they are no longer able to afford it.
Third, it may seem strange, but, studying abroad is sometimes disadvantageous for Japanese students to get a job. It is because they may miss out on job opportunities. Many Japanese companies start to recruit college and university students all at once in a particular month of the year and if students are not in Japan, they will not be able to apply for those jobs.
Fourth, schools abroad start their semesters usually in fall or winter while almost all Japanese schools start in April. This means if a student wants to go on to a school abroad, he/she has to spend about half a year waiting. After graduating from the school and if he/she wants to continue studying at a Japanese school, he/she has to wait for another half a year. This is a waste of their time.
For these reasons , I think fewer and fewer Japanese students are studying abroad.