In August 2014, the Government Pension Fund controlled assets were valued at approximately US$884 billion (equal to US$173,000 per capita) which is about 174% of Norway's current GDP. It is the largest sovereign wealth fund in the worldhttps://en.wikipedia.org/wiki/Government_Pension_Fund_of_Nor...
An effect, from the same charts, which partially mitigates what you're highlighting is that Norway has a totally different balance of exports versus imports:
Canada: Imports $437 B Exports $438 B
Norway: Imports $92 B Exports $147 B