What does the colonial term mercantilism mean?

Mercantilism is an economic theory and practice that dominated European colonial policy from the 16th to the 18th century. It emphasized the importance of accumulating wealth, primarily gold and silver, through a favorable balance of trade by exporting more than importing. Colonies were seen as vital sources of raw materials and markets for manufactured goods, leading to the exploitation of colonial resources to benefit the mother country. Overall, mercantilism aimed to strengthen national power and economic independence.