The Swedish Navy was after the WW2 (if im not misstaking, around 50s 60s) the largest Navy, and aparently the best at the time, but as you say it depends on when you take a look at all the navies, many Navies have had its glory at one time or another.
Now? Not sure, but my guess is on the US Navy
The Swedish is a modern Navy though, but not perticuarly big.
The Brasillian Navy then? Remember it as rather big navy, dont know its current state though?
Canada is probebly alot like Swedish navy, modern but not that big.
The British navy is quite big aswell?