To explicate something is not just to summarize it, but to offer an interpretation by searching for meaning. If you are asked to explicate a poem, for example, you need to consider what you think the poem means.
A detailed analysis of a passage of prose or poetry. An explication would strive to explain how all the elements in an individual poem or passage work; a critic would analyze the various parts in order to interpret the poem. An explication goes one step beyond paraphrase because it attempts to discover the meaning of the work.